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Boohoo.com floats on stock market

Boohoo.com has become the latest retailer to list on the London Stock Exchange, making its debut on the Aim market this morning (March 14).

The young fashion etailer has a placing price of 50p per ordinary share, valuing it at £560m.

Boohoo said it raised £300m by placing 600 million ordinary shares with institutional and other investors.

Joint chief executives Mahmud Kamani and Carol Kane released a statement that said: “The IPO of Boohoo.com marks an exciting milestone in the company’s development and will support us in our continued ambition to provide high-quality, fast fashion at affordable prices for our fashion-conscious customers around the world.

“We view the support from investors as a strong endorsement of the company’s growth plans and we look forward to creating value for our new shareholders as we begin life as a public company.”

 

Readers' comments (3)

  • Ladieswear must be trading incredibly well because the menswear is shockingly bad !!!

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  • Investors in this are mad! overvalued but what a marketing master piece by Zeus Capital

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  • i dont understand it - a buisness making £2.9m profit and t/o of £67m valued at £500m+ what was the mutiple? a dream for them (well done) a nighmare for investors i fear!

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