// In The Style has made its debut on the London Stock Exchange
// The online retailer has placed 5m new shares and 24m existing shares at 200p each
// In The Style said it will have 52m ordinary shares in issue and a free float of 44.2%
In The Style has launched on the London Stock Exchange’s junior AIM market today, placing five million new shares and 24 million existing shares at 200p each.
It said the placing was oversubscribed, therefore increasing the number of existing shares on sale available to new investors.
In The Style has set up long-term agreements with influencers to collaboratively design, develop and promote branded fashion collections in an effort to boost sales and engagement.
“Today is a really exciting day for In The Style. Our successful admission to AIM is a milestone we are delighted to have achieved,” In The Style chief executive and founder Adam Frisby said.
“It has been an incredible journey over the last seven years for the business and I’m beyond proud of the differentiated and inclusive brand In The Style has become.”
In The Style confirmed its application for admission to AIM last week after raising £49 million in an oversubscribed placing, a move that values the online fashion retailer at £105 million.
Once admitted to the AIM, In The Style said it would have 52 million ordinary shares in issue and a free float of 44.2 per cent.
Meanwhile, fund manager Causeway Capital Partners will hold a 14.5 per stake and In The Style senior management will collective have a 27.3 per cent stake.