Mysale gears up for stock debut on Aim with 226p issue price

 
Michael Bow
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ONLINE fashion site Mysale, part-owned by Sir Philip Green, yesterday priced its forthcoming stock market float at 226p a share.

The company, which has plans to launch a website in the UK within weeks, said it would raise £40m from the listing, which would take place on the junior stock market the Alternative Investment Market (Aim).

The seven-year-old business said that it would use the proceeds of the listing to expand its marketing and business growth.

The pricing gave the company a market cap of about £340m. The business would have a free float of 41.2 per cent, it said yesterday.

The company offers a retail fashion websites in Australia and Asia and is 25 per cent owned by Sir Philip’s wife Tina.

“We are delighted with the success of our initial public offering and we welcome our new shareholders,” executive director and vice-chairman Jamie Jackson said.

“We look forward to keeping them up to date with our progress in the exciting times ahead as we continue to build on our leading position in Australia, New Zealand and south east Asia and leverage this expertise across an expanding international footprint, starting this year in the US and UK.”

Admission to the market is expected on 16 June.

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