Bonmarché to list shares on AIM stock exchange

Fashion chain Bonmarché, which focuses on women over

50, is set to list on the AIM stock market on November 20, as it confirms its initial public offerings has been successful.

The high street chain is placing 20,007,260 ordinary shares at 200p per share to raise around 40 million pounds, after private equity owner Sun European Partners sold 40 percent of its stack for the stock exchange listing.

Beth Butterwick, chief executive of Bonmarché, said: “We are delighted to announce that our initial public offering has been successfully received. We would like to welcome our new shareholders and are looking forward to the next stage in the development of the business as a publicly quoted company.”

Equity firm Sun European Partners, which bought Bonmarché in 2012 after former owner Peacocks went into administration, retains a 52.4 percent share in the retailer, while management continues to hold almost 8 percent as they are not selling down their stake.