Quiz float draws near following £102m pricing

219
Quiz Float

Quiz is preparing to finalise its listing on the London Stock Exchange after being given a pricing of £102.7 million.

The fast fashion retailer has secured a placing price of 161p per share, which makes its market capitalisation on admission £200 million.

Of the £102.7 million expected in gross proceeds, £92.1 million will be for the selling shareholders, and £10.6 million will be for the company to accelerate its growth.

The retailer posted a group revenue rise of 21 per cent per year between 2015 and 2017 to £89.8 million, alongside a EBITDA growth of 30.6 per cent per year to £10.3 million.

It currently boasts an estate of 73 standalone stores and 165 concessions in the UK and Ireland, alongside online growth of 118 per cent in its last financial year.

“I am delighted to be joining a company with such clear and exciting growth prospects and this has been reflected by the strong levels of investor interest received throughout this process,” non-executive chairman Peter Cowgill said.

READ MORE: Quiz confirms plans for £200m London IPO

“We are looking forward to achieving further growth and success for all stakeholders as a public company.”

Chief executive Tarak Ramzan added: “Today’s announcement marks an exciting new phase in QUIZ’s growth and development as a leading international omnichannel fast fashion brand.

“We have a well-invested infrastructure, a clear customer focus and a fantastic team and I am delighted that investors have recognised the Company’s significant strengths and opportunities with their support.

“We are confident that the Company’s admission to AIM will help QUIZ to deliver its clear omnichannel growth strategy and enable the brand to achieve its hugely exciting global potential.”

Click here to sign up to Retail Gazette’s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here