In The Style valued at £105m ahead of AIM admission
Influencer-driven fashion etailer In The Style has applied for admission to AIM after raising £49m in an “oversubscribed” placing which has set its market capitalisation at £105m.
The funds were raised after it placed 5.5m new ordinary shares, of 0.25 pence each and 24.5m existing ordinary shares at a price of 200 pence each, to institutional and other investors.
On admission, In The Style will have just under 52.5m ordinary shares in issue and a free float of approximately 44.2%.
The placing of the new shares is expected to raise £11m for the company and the placing of the sale shares £49m for the selling shareholders.
In The Style chief executive officer Adam Frisby said: “We are thrilled by the very positive reception to our IPO from a wide range of high-quality institutional investors.
“This is a great testament to In The Style’s differentiated brand, innovative influencer collaboration model, and exciting opportunities for future growth.
“I’m incredibly proud of the ITS brand and would like to take this opportunity to thank everyone connected with In The Style - including our team, customers, partners and influencers – for their continued support of the business, which has contributed to both its success so far and today’s exciting milestone.
“We are delighted to welcome our new shareholders and are looking forward to the next exciting chapter of In The Style’s journey as a public company.”
