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Published
May 24, 2016
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UK’s Joules to float on AIM this week

Published
May 24, 2016

Premium lifestyle brand Joules has confirmed plans to float on London’s AIM this Thursday.


Joules


The British retailer said it aims to raise gross proceeds of approximately £77.5 million, of which £11.5 will be used to pay down outstanding debt. The rest will be paid to selling shareholders.

The company, which designs and sells branded lifestyle clothing, accessories and homeware, was valued at £140.0 million. It operates 98 stores, including five concessions and four franchises, as well as an e-commerce and wholesale business.

On Thursday 26, May, Joules will place 7,175,851 new and 41,261,649 existing ordinary shares at 160 pence each.

"Today’s announcement marks an exciting new phase in Joules’ development as a premium lifestyle brand. Joules is a much loved brand with a rare heritage and we are delighted with the strong response to the placing, reflecting investors’ recognition of the significant further opportunities for the Group both in the UK and internationally,” said Colin Porter, CEO.

On Admission, the company’s founder Tom Joule will hold approximately 32% of the issued share capital of the company.

In FY15, the British label generated revenue of £116.4 million, and EBITDA of £10.7 million.

In the nine months to the end of February 2016 Joules saw revenue grow 18.2%, against the prior year with EBITDA growth of 48.4%. According to a statement, the business has traded in line with expectations since then.

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