Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

MySale valued at £340m for next week's float

Australian flash Sales website MySale has revealed it will go public on June 16, in a move that will value the company at around £340m.

It will list on London’s Alternative Investment Market (Aim), issuing 150,647,610 ordinary shares, which is equivalent to 41.2% of the total business. Arcadia boss Sir Philip Green acquired a 25% stake in May.

MySale will use the £40m raised for a number of purposes including “opportunistic strategic acquisitions”, following on from its purchase of Cocosa in May.

It will also be used for “marketing initiatives and member acquisition when entering into new markets”, primarily the UK and US, to improve infrastructure and as working capital to support MySale’s growth.

MySale first revealed it was launching in the UK back in February. It subsequently announced it was relocating its headquarters from Sydney to London.

Macquarie Capital is the nominated adviser on the IPO, alongside Zeus Capital – which acted for etailer Boohoo when it listed on Aim in March – as joint broker and bookrunner.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.