- Angela Gonzalez-Rodriguez |
Since last Friday, yet another fashion retailer’s shares trade on the London Stock Exchange’s junior market. Quiz’s initial public offer of shares (IPO) has given the Scottish fashion label a 200 million pounds market valuation.
On July 28th, Quiz started trading as a public company on the London’s alternative capital market, the AIM. “There’s still good growth in stores, but the real growth story over the next few years will be international and online,” founder and chief executive Tarak Ramzan said.
Here are the most notable figures of the float:
- 7.7 percent – the rise Quiz’s stock experienced by the close of its first day of trading
- 51.2 percent, the size of the company’s shares which is now in public hands
- 161.0 pence – the retailer’s IPO’s placing price
- 197 pence – the stock’s daily high
- 102.7 million pounds – total amount raised through the IPO
- 92.1 million pounds – the amount that will go to the selling shareholders
- 10.6 million pounds – the funds that the company will receive from the IPO’s proceedings
- 124.2 million issued shares on admission
- 200 million pounds – Quiz’s market capitalisation
Quiz to use 10.6 million pounds from total IPO’s fundraising to expand internationally
The remaining 10.6 million pounds will go back into growing the company, advanced the retailer’s management in a corporate release. Quiz’s executive team will continue to grow its online presence through new international websites.
The fashion company’s foray overseas will spearhead with the launch of Quiz standalone stores in Spain as well as concessions in the U.S. It will also keep expanding its footprint in its local market, planning to open another 20 stores and 20 concessions in the UK.
This growth will be also helped via third party platforms and by the introduction of new product categories. Improving the existing mobile channel will be the last pillar of the now publicly-traded Quiz’s development.
“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," Quiz founder Tarak Ramzan commented on Friday.
Ramzan added: "The company has a number of clear and exciting growth opportunities in the UK and internationally across its omni-channel model and we look forward to creating shareholder value in this new phase of QUIZ’s development."
The company had chosen to float partly as a way to “bring in new talent”, he added, citing the appointment of Peter Cowgill, chair of sportswear retailer JD Sports, to the board as part of its entry to the stock market, reported the ‘Financial Times’.
Maclay Murray & Spens LLP (MMS) advised Quiz Plc on its 200 million pounds flotation on London’s Alternative Investment Market (AIM). MMS partner and head of capital markets, Brian Moore, who led the MMS team, said: “This is a landmark moment in QUIZ’s history,” adding that “Quiz is a business which is going from strength to strength and is in an excellent position to capitalise on the new funding and other opportunities this development offers.”
Photo: Quiz UK Web