London Stock Exchange welcomes eve Sleep plc to AIM
London Stock Exchange today welcomed eve Sleep plc, the e-commerce focused, direct to consumer European sleep brand, to celebrate its admission to trading on AIM.
eve Sleep, trading under the ticker “EVE” successfully raised c.£35m from leading investors and which valued the Company at c.£140m. The funds raised will be used to support the Company’s advertising and marketing strategy and used as general working capital to support and implement the Company’s growth strategy in its aim is to become the leading pan-European sleep brand.
eve Sleep, which designs and sells eve-branded mattresses and other sleep products, including pillows, sheets and duvets, has grown quickly since its launch in February 2015, expanding to 10 countries. The Company has a strong customer proposition with an attractive brand offering a simple customer journey and high quality products at an affordable price point together with a scalable marketing strategy and an experienced management team.
Jas Bagniewski, Chief Executive Officer of eve, said:
"Today marks a new dawn in our vision to be Europe’s leading sleep brand. With our simplified direct to consumer proposition, we are disrupting a fragmented European market, which is forecast to be worth approximately £26 billion by 2019. The funds raised will accelerate our growth strategy including through deepening penetration within our ten existing markets, as well as expanding our product range.
Eve has a clear growth strategy, an experienced management team and a scalable operational model to continue building on its momentum. We thank our existing investors for their continued support and welcome our new shareholders. We look forward to the future with real confidence and delivering long term value for all stakeholders."
Peel Hunt acted as nominated adviser and broker, Norton Rose Fulbright and Nabarro as legal counsel and Instinctif Partners as financial PR.