Boohoo confirms £560m listing next week
Online fashion website Boohoo has confirmed this morning that it’ll debut on London’s Alternative Investment Market (Aim) market next week, with a market cap of £560m.
Shares will be trading from next Friday, with 600m placed at 50p each, raising £300m.
The firm’s got plans to spend £50m of what’s raised via the flotation on expansion of a “multi-stage” development, improving infrastructure and growing distribution facilities.
£240m will be used to repay convertible loan notes held by existing shareholders.
The listing will also see the Manchester-based Kamani family holding 44 per cent of Boohoo’s enlarged share capital. They’ve sold a £240m stake in the fast-growing company, making them one of the richest families in the country.