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In The Style, an e-commerce womenswear fashion brand, has announced the successful admission of its entire issued and to be issued share capital on the London Stock Exchange’s junior AIM market.
The admission sees 5.5 million new ordinary shares and 24 million existing ordinary shares placed at 0.25 pence and 200 pence per share respectively.
Originally announced on 10 March 2021, today’s placing (15 March) will raise £11m for the company and £49m for its selling shareholders.
In turn, the online retailer’s value now represents £105m, with nearly 52.5 million ordinary shares in issue.
Adam Frisby, CEO at In The Style, said that today “is a really exciting day” for the company.
He added: ”Our successful admission to AIM is a milestone we are delighted to have achieved. 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.
“We are very pleased to welcome our new shareholders to the business and I am really excited for the next chapter of the In The Style journey.”
In The Style’s successful admission has resulted in Causeway Capital Partners owning approximately 14.5% and senior management owning 27.3% of the issued ordinary shares.
The group has previously said that it intends to use the proceeds raised from the float to invest in “growing and developing” its social media influencer network, selective brand marketing, and entry into certain international markets through its proven influencer model.
