Blue Inc's debut in London AIM: wait for oversubscription

Menswear fashion retailer Blue Inc will follow suit with a string of apparel retailer that have set their sights on the junior stock market in London. The company will list on the Alternative Investments Market (AIM) in mid- June. Market sources highlight that the much anticipated float will come amidst

an oversubscription, as this is said to be a popular stock with great potential. In a statement to the London Stock Exchange last of May, Blue Inc. confirmed its intentions to debut on the secondary stock market in London.

The expected date is 19th of June, although this as well as the price per share at the time of the listing are yet to be disclosed in full.

Blue Inc to start trading on London secondary stock exchange in June

In a note commenting the news, Cohen said, "An IPO is the next exciting step in our strategic growth plan. We are proud to have created over 2,000 new jobs across the UK and look forward to the next phase in the company's development with tremendous opportunities ahead."

Blue Inc. Limited plans an initial public offering on the Alternative Investment Market under the ticker symbol BINC in late June 2014.

Despite the shares price is still undisclosed, the market points to an initial public offering (IPO) to value the company at 60 million pounds. Cantor Fitzgerald is advising Blue Inc.

As per data gathered by the ‘Sunday Times’, Blue Inc will come to the market aimed to raise 15 million pounds and the proceeds will be used to increase the number of stores and update the company's website.

Chief Executive Steven Cohen is one of the group's current shareholders, with a 13.48 percent stake, while Sir Stuart Rose holds another 5.12 percent equity stake. Blue Inc. registered sales of 98.7 million pounds. EBITDA of 4.5 million pounds for the year ended 31 December 2013.