In The Style makes stock market debut as Deliveroo prepares for float

In The Style has launched its float on the AIM market today after a “significantly oversubscribed” fundraising, which priced it at the top end of its valuation range.

The online fashion retailer raised £11m for the company and £49m for selling shareholders after selling 24.5 million existing shares at 200 pence per share.

Based on this placing price, In The Style’s market capitalisation is approximately £105m, with Liberum acting as nominated adviser and sole broker.

In The Style’s chief executive officer Adam Frisby said: “Today is a really exciting day for In The Style. Our successful admission to AIM is a milestone we are delighted to have achieved.

“It has been an incredible journey over the last seven years for the business and I’m beyond proud of the differentiated and inclusive brand In The Style has become.

“We are very pleased to welcome our new shareholders to the business and I am really excited for the next chapter of the In The Style journey.”

In The Style is the latest in a flurry of retail stock market debuts in recent months, including Moonpig and Virgin Wines.

Deliveroo, which confirmed its intention to float on the London Stock Exchange earlier this month, has said today that it aims to raise approximately £1bn with its upcoming IPO through the sale of new and existing shares.

A number of shares held by chief executive Will Shu will not be offered in the IPO when the float begins and will give Shu greater voting rights. This structure will last for three years from the IPO, at which point these shares will be converted into ordinary shares.

Deliveroo has engaged Goldman Sachs and JP Morgan as joint global co-ordinators and Jefferies and Numis as joint bookrunners for the offer.