Bonmarché announces the successful pricing of its initial public offering and the proposed placing (the “Placing”) of 20,007,260 ordinary shares at 200p per share by Investec Bank plc (“Investec”).
Placing details:
- The Placing will raise gross proceeds of £40.0 million reflecting a secondary sale by BM Holdings S.A.R.L.
- Trading in Bonmarché’s shares is expected to occur on 20 November 2013 at 08.00am on AIM under the ticker “BON”
- At Admission, the Company will have 50,018,150 shares in issue
- Investec is acting as financial adviser, NOMAD and broker to the Company
Beth Butterwick, Chief Executive Officer 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.”
Bonmarché:
Bonmarché is one of the UK’s largest women’s value retailers focused on selling affordable, stylish, premium quality clothing and accessories in a wide range of sizes for women over 50 years old, via its own store portfolio, website, mail order catalogues and through the Ideal World TV shopping channel. Established in 1982, the Bonmarché business has more than 30 years of experience in this growing market segment, operating across the UK.