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Mar 10, 2021
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In The Style’s IPO values it at £105m, proceeds to fund international expansion

Published
Mar 10, 2021

There’s been an enthusiast response to In the Style’s initial public offering (IPO). In fact, demand for buying in to its listing on the Alternative Investment Market (AIM) has been "significantly oversubscribed”, the UK-based online women’s fashion e-tailer said Wednesday.


In The Style


So far, it’s raised £11m through a share placing, while the placing of sale shares is expected to raise gross proceeds of £49 million. Based on the placing price, the company’s market capitalisation will be set at around £105m.

The oversubscription means the company has been able to increase the number of sale shares available to new investors and to set the placing price of 200p per share at the top of the valuation range.

The company will enter stock market on 15 March under the ticker ITS as part of its flotation plans. On admission to AIM, Causeway Capital Partners will own around 14.5% of the company, and senior management will own around 27.3%.

In The Style founder and chief executive Adam Frisby said the retailer intends to use the net proceeds of the placing, together with some of its existing cash resources, on a host of investments.

These include continuing to grow and develop its social media influencer network, selective brand marketing, entry into certain international markets through its proven influencer model, infrastructure and technology and to assist with the move to a new, larger warehouse in 2021 to support further growth.

Frisby said: “We are thrilled by the very positive reception to our IPO from a wide range of high quality institutional investors. This is a great testament to In The Style’s differentiated brand, innovative influencer collaboration model, and exciting opportunities for future growth.”

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