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Bonmarché goes public with £40m share issue

Bonmarché launched on the London stock exchange this morning with its share price rising marginally within the first hour of trading.

The womenswear retailer listed on the Alternative Investment Market (AIM) at 8am under the ticker BON, with shares priced at 213.50p before rising to 215.50p at 9am.

Private equity owner Sun European Partners has put 40% of the business onto the market with Investec Bank is acting as financial adviser, Nomad and broker.

The launch share price valued the business at £100m - lower than the £110m-to-£130m Bonmarché originally expected.

Bonmarché, which announced its plans for an IPO in October, is looking to raise £40m through the share issue.

Chief executive Beth Butterwick said: “We are delighted to announce that our initial public offering has been successfully received. We would like to welcome our new shareholders and are looking forward to the next stage in the development of the business as a publicly quoted company.”

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