ASOS confirms stock exchange listing move for Tuesday
ASOS has confirmed its planned move from the lightly regulated AIM part of the London Stock Exchange to the more prestigious Main Market.
It published the prospectus for the move and has confirmed that it’s happening with the big news being that its shares will start trading on the Main Market as soon as February 22. They’ll be delisted from AIM at 7am GMT on Tuesday and will land at their new home an hour later.
Trading will begin at that point with no new shares being issued.
The listing move is an understandable one given ASOS’s size — with revenue heading towards £4 billion in its latest year — and its desire to grow even bigger both at home and abroad.
The Main Market is home to some of the UK’s largest and most respected companies and could appeal to both institutional and private investors rather more than being listed on AIM does.
That said, AIM has its own share of hugely successful companies, not least among them being major ASOS rival Boohoo Group.
ASOS’s COO and CFO Mat Dunn said: “ASOS has set out a clear plan to deliver an ambitious growth strategy over the next three to four years and to deliver on the sizeable opportunities ahead for our business. Against this backdrop, the time is now right to move to the Main Market.”
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