DLA Piper was involved with the initial public offering (IPO) of online fashion retailer Boohoo.com. The Manchester team that acted for Boohoo provided advice to the company on its flotation and placing of new shares on AIM.
Boohoo.com, which is based in Manchester, is to place 600 million new ordinary shares at 50p per share, giving the business a market capitalisation of approximately £560m. Existing shareholders will retain a further 44 per cent of Boohoo’s shares.
The DLA Piper team was led by partners Elia Montorio and Stephen Devlin, alongside Ciaran Stone.
A team of 20 worked on the transaction, including specialist support from IT/e-commerce specialists led by Claire Edwards, as well as support from DLA Piper’s Paris, Australian and Shanghai offices alongside the firm’s London-US desk.
This follows on from DLA Piper’s roles on a number of AIM IPOs, including DX Group (£200m market capitalisation on admission), Conviviality Retail (£66.7m), Safestyle UK (£77.7m), Plus 500 ($75m), Atlantis Resources (£72.1m) and Manx Telecom (£160.2m).