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ASOS on the London Stock exchange

Online fashion retailer ASOS will make its debut on the main market of the London Stock Exchange on Tuesday morning. In a confirmatory note yesterday, the… View Article

FASHION RETAIL NEWS UK

ASOS on the London Stock exchange

Online fashion retailer ASOS will make its debut on the main market of the London Stock Exchange on Tuesday morning.

In a confirmatory note yesterday, the retailer said its ordinary shares would be admitted to trading on the main market of the LSE.

Monday was the retailer’s last day of trading on AIM, with shares delisted with effect from 7am on Tuesday.

“ASOS has set out a clear plan to deliver an ambitious growth strategy over the next three to four years and to deliver on the sizeable opportunities ahead for our business,” said Mat Dunn, ASOS chief operating officer and chief financial officer. “Against this backdrop, the time is now right to move to the Main Market.”

Dunn added: “I would like to take this opportunity to thank the teams who worked so hard over the past few months getting ready for today, and to all ASOSers for their ongoing dedication and commitment.”

During the 16-week period to 31 December, total group revenue reached £1.39 billion, up by five per cent in comparison to 2020. ASOS explained that this was in line with guidance, despite industry-wide issues across the supply chain and uncertainty following the discovery of the Omicron variant.

The retailer listed on the Alternative Investment Market in 2001 and has been one of its largest companies.

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