Fast fashion retailer Quiz will be admitted to the London Stock Exchange’s AIM market as of 8am this morning.
Following the announcement of a successful placing last week, Quiz will enter its ordinary shares to the market with a capitalisation of £200 million.
The placing raised £102.7 million of gross proceeds at a price of 161p per share, this will be split between selling shareholders and the company getting £92.1 million and £10.6 million respectively. The latter will be used to accelerate continued growth.
The retailer will trade under the ticker “QUIZ” and the total number of shares with voting rights will be 124,230,905.
“Today’s admission marks a significant milestone in the growth of the Quiz brand,” founder and chief executive Tarak Ramzan said.
“With our unwavering focus on providing fantastic occasion wear and dressy casual wear at value for money prices, Quiz has a very exciting position in the fast-growing fast fashion market.
“The Company has a number of clear and exciting growth opportunities in the UK and internationally across its omnichannel model and we look forward to creating shareholder value in this new phase of Quiz’s development.”