DLA Piper has announced its involvement in the IPO of online fashion retailer boohoo.com
The Manchester team who acted for boohoo.com plc 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 50 pence per share, giving the business a market capitalisation of approximately £560m. Existing shareholders will retain a further 44% of boohoo’s shares.
The DLA Piper team was led by partners Elia Montorio and Stephen Devlin alongside Ciaran Stone. A strong 20+ team worked on the transaction, including specialist support from IT/eCommerce specialists led by Claire Edwards, as well as support from DLA Piper’s Paris, Australian, and Shanghai offices alongside the firms London US desk.
Elia Montorio commented: “This is a real success story and we are delighted to have been able to advise this Manchester based business on its maiden IPO and to be involved in such an astonishing and rapidly growing ecommerce business.”
A spokesperson from boohoo stated: “DLA Piper has provided us with a truly excellent level of service throughout this demanding process. Stephen, Elia and the team have guided us in a highly competent, professional and commercial manner while at all times working as genuine partners with our own team.”
