Boohoo bounces onto Aim as shares hit 85p

Harriet Green
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It's the first day of trading for online fashion retailer, and shared are surging.

Making its debut on London's Aim, shares opened at 85p - well above the offer price of 50p. Shares are currently trading around 78p.

The firm raised £300m through its initial public offering, and is the third UK retailer to list shares this week - it follows Poundland and Pets at Home.

Analyst Nick Bubb, a retail analyst, comments:

Shares [are] trading around the 80p mark, which puts the market cap at around £900m, up with the likes of Halfords, Debenhams and Ted Baker.