Quiz makes its debut on AIM
On admission, the company had a market capitalisation of £200 million and the placing raised £102.7 million at a placing price of 161 pence. Some £92.1 million of the proceeds will go to selling shareholders while £10.6 million will be used to accelerate growth.
Tarak Ramzan, founder and chief executive of QUIZ, said: "Today's admission marks a significant milestone in the growth of the QUIZ brand. With our unwavering focus on providing fantastic occasion wear and dressy casual wear at value for money prices, QUIZ has a very exciting position in the fast-growing fast fashion market.
“The company has a number of clear and exciting growth opportunities in the UK and internationally across its omnichannel model and we look forward to creating shareholder value in this new phase of QUIZ's development."
The company was founded in 1993 in Glasgow and employs approximately 1,350 people in the UK and Ireland. It now has more than 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 19 countries.
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