LONDON Feb 28 British online fashion retailer
Boohoo.com plans to list its shares on London's Alternative
Investment market, joining a surge of retail groups seeking
flotations as the outlook for consumer spending improves.
The firm said in a regulatory filing on Friday that it was
seeking a March listing.
Boohoo designs, sources, markets and sells own brand
clothing, shoes and accessories through its website to a core
market of 16-24 year-old consumers in the UK and globally.
It claims to have 2.3 million active customers.
The filing gave no details of the capital Boohoo plans to
raise or divestment by the existing owners with the majority of
Boohoo's shares owned by the firm's founders, the Kamani family.
According to media reports, Manchester-based Boohoo plans to
raise over 100 million pounds ($167 million) and gain a market
value of around 500 million pounds.
Its larger rival, ASOS, also listed on AIM, has a
market capitalisation of 5.8 billion pounds.
Peter Williams, a former non-executive director of ASOS,
will become non-executive chairman of Boohoo that was set up in
Boohoo's flotation is one of many expected in Britain's
retail sector in 2014 on the back of the country's gradually
Convenience store McColl's and online domestic appliances
firm AO World have already listed, while Poundland and
Pets at Home have set price ranges.
Fat Face, B&M and House of Fraser are amongst other store
groups expected to come to market.