Women's clothing brand Quiz to float on London Stock Exchange next week

 
William Turvill
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Quiz will enter the Alternative Investment Market (Aim) on 28 July (Source: Quiz)

Women’s clothing company Quiz is to float on the London Stock Exchange next week.

The “fast fashion” brand has successfully raised £102.7m and will be valued at £200m when it enters the junior Alternative Investment Market (Aim).

Some £92.1m of the proceeds will go to selling shareholders and £10.6m will go towards the company, which joins peers such as Asos and BooHoo on the market.

Quiz, advised by Panmure Gordon, is expected to complete its initial public offering (IPO) on Friday 28 July.

Founded in Glasgow in 1993, Quiz has an “omni-channel approach”, aiming to “provide customers with a seamless shopping experience” online, through its website or apps, and in store. The brand currently has 73 standalone stores and 165 concessions in the UK and Ireland.

The company is aiming to open 20 new stores and 20 new concessions in the UK over the next two years.

Quiz, which employs 1,350 people across the UK and Ireland, is also present in 19 countries through 65 international franchise stores, concessions, wholesale partners and international online partners.

Peter Corgill, the chairman of JD Sports who has been brought in as non-executive chairman, said:

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

Read more: Allied Irish Banks ties up IPO with €12bn valuation

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