Boohoo shares are expected to sell at 50p, valuing it at more than £500m, as Ao.com exercises its “over-allotment” option.

The Telegraph revealed the share price for fashion etailer Boohoo which expects to join rival Asos on AIM on March 14.

The Manchester-based etailer has lined up former Asos director Peter Williams as chairman and ex-Shop Direct boss Mark Newton-Jones as non-executive director, as revealed by Retail Week.

However, Indian etailer Koovs, which was set up by former Asos chairman Lord Alli in 2012, will pip Boohoo to the post when it floats on Monday. Koovs will raise £22m by selling 62% of the business at 150p a share, giving it a market capitalisation of £36m.

Meanwhile white goods etailer Ao.com, which floated late last month, yesterday revealed it will exercise an over-allotment option to enable it to sell more shares due to the popularity of its stock. An extra 22.3 million shares will be sold at the 285p offer price.

Shares in Ao.com closed at 357p last night, giving it a market capitalisation of £1.5bn.

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