Quiz to debut on London's AIM market
Fashion retailer Quiz has revealed that its shares have been priced at £1.61 each ahead of its flotation on the Alternative Investment Market.
The placing is expected to raise £102.7 million and the company will be valued at around £200 million when it makes its stock market debut on 28 July.
Some £92.1 million of the proceeds will go to selling shareholders while £10.6 million will be used to accelerate growth.
Quiz has 73 standalone stores and 165 concessions in the UK and the Republic of Ireland. It also has a presence in 19 countries through 65 international franchise stores, concessions, wholesale partners and international online partners.
The company was founded in 1993 in Glasgow and employs approximately 1,350 people in the UK and Ireland
Tarak Ramzan, Quiz founder and chief executive, said: “Today’s announcement marks an exciting new phase in Quiz’s growth and development as a leading international omni-channel fast fashion brand.
“We are confident that the company’s admission to AIM will help QUIZ to deliver its clear omni-channel growth strategy and enable the brand to achieve its hugely exciting global potential.”
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