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Bonmarché Holdings plc

AIM flotation gives Bonmarché £100mln price tag

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Women’s value clothing retailer Bonmarché (LON:BON) will have a £100mln market capitalisation when it joins AIM next week.

The high street chain is placing 20mln shares at £2 each, raising £40mln and creating a free float of 40%, meaning two-fifths of the issued share capital can be freely traded.

Bonmarché’s decision to join the stock market is a boost for the downtrodden high street, which has suffered from restrained consumer spending since the financial meltdown.

The company, which specialises in clothes aimed at over-50s, has 265 stores in the UK, but also sells online and using mail-order catalogues.

Last year, the company generated £147mln in revenues and underlying earnings (EBITDA) of £9.1mln.

Bonmarché was bought by private equity firm Sun European Partners for just £10mln in 2012 when former owner Peacocks went into administration. 

Investec is directing the company’s move to the stock market.

Chief executive Beth Butterwick said: “We are delighted to announce that our initial public offering has been successfully received. 

“We would like to welcome our new shareholders and are looking forward to the next stage in the development of the business as a publicly quoted company.”


Quick facts: Bonmarché Holdings plc

Price: £0.09

Market: LSE
Market Cap: £4.25 m
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