Quiz prepares for 200 million pound IPO

London - Fashion retailer Quiz is gearing up for its upcoming listing on the Alternative Investment Market (AIM) on the London Stock Exchange, following news that its 102.7 million pound placing was successfully priced.

The placing price for is set at 161p per share, giving Quiz a market capitalization of 200 million pounds at admission to the stock market. The placing is predicted to raise a total of 102.7 million pounds of gross proceeds. 92.1 million pounds of the gross proceeds will be for the selling shareholders and 10.6 million pounds in gross proceeds will go towards the company, which will be used to accelerate the retailer's ongoing growth.

Following its listing on AIM, existing shareholders will hold approximately 48.7 percent of the company's enlarged share capital and directors will hold around 25.8 percent of its issued ordinary share capital. Quiz has applied the admission of its entire share capital on AIM and is expected to begin trading on July 28, at 8 am.

"Today’s announcement marks an exciting new phase in Quiz’s growth and development as a leading international omni-channel fast fashion brand," said Tarak Ramzan, founder and chief executive at Quiz in a statement. "We are confident that the Company’s admission to AIM will help Quiz to deliver it's clear omni-channel growth strategy and enable the brand to achieve its hugely exciting global potential."

Peter Cowgill, proposed non-executive chairman at Quiz, added: "I am delighted to be joining a company with such clear and exciting growth prospects and this has been reflected by the strong levels of investor interest received throughout this process. We are looking forward to achieving further growth and success for all stakeholders as a public company."

1 Minute recap of Quiz IPO plans

Photos: Courtesy of Quiz