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Friday 14 March, 2014 plc

First Day of Dealings

RNS Number : 2880C plc
14 March 2014

For Immediate Release               

14 March 2014 plc

("boohoo" or the "Company")


First Day of Dealings on AIM following £300m placing


Dealings commence at 8am, 14 March 2014


boohoo, one of the UK's largest pure-play online, own brand fashion retailers, is pleased to announce that Admission and dealings in its Ordinary Shares commence at 08:00am today on the AIM market of the London Stock Exchange. Following Admission, dealings will commence under the TIDM code BOO and its ISIN number is JE00BG6L7297.


The Company designs, sources, markets and sells the latest on-trend fashions through the website to a core market of 16-24 year old consumers.  boohoo is a well-established brand in the UK, Ireland and Australia and currently sells its products into over 100 countries.




·     £300 million was raised via the placing of 600 million ordinary shares with institutional and other investors at a placing price of 50 pence per ordinary share (the 'Placing'). 


·     Boohoo's market capitalisation on Admission, based on the Placing price, is approximately £560 million.


·     The £50 million proceeds for the Company will be used to accelerate its expansion and enhance its working capital base.  A proportion of the money raised will be used as part of a multi-stage development plan to grow the Company's distribution facilities and repay the outstanding mortgage on its Burnley warehouse, in addition to funding the infrastructure and IT systems to support future international growth. Approximately £240 million will be used to repay the Convertible Loan notes held by the Company's existing shareholders. 


·     Zeus Capital is acting as Nominated Advisor and Sole Broker to the Company.


The Company's Admission Document can be found at: 


Commenting on the announcement, Mahmud Kamani and Carol Kane, Joint Chief Executives of boohoo, said:

"The IPO of 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."


Enquiries: plc

Mahmud Kamani, Joint Chief Executive

Carol Kane, Joint Chief Executive

Neil Catto, Chief Financial Officer

Benjamin Robertson, Investor Relations


c/o Buchanan +44 (0)20 7466 5000




+44 (0)7768 511 056

Buchanan - Financial PR adviser

Richard Oldworth

Helen Chan

Gabriella Clinkard


+44 (0)20 7466 5000

[email protected]

Zeus Capital - Nominated adviser and broker

Corporate Finance

Nick Cowles

Andrew Jones

Tim Metcalfe


Institutional Sales

John Goold

Dom King


Tel: +44 (0)161 831 1512

Tel: +44 (0)20 7533 7727



Photographs are available from Buchanan.  To arrange to receive soft copies, please contact +44 (0)20 7466 5000 or [email protected]



This information is provided by RNS
The company news service from the London Stock Exchange

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