London Stock Exchange today welcomed MySale Group to AIM
London Stock Exchange today welcomed MySale Group, a leading online retailer with established flash sale sites in Australia, New Zealand and South-East Asia and expanding international presence in the US and UK, to a Market Open ceremony marking its admission to trading on the AIM.
The Company's IPO raised £40m through a placing of new shares and the funds raised will be used for marketing initiatives, upgrading of existing warehouses, opportunistic strategic acquisitions and additional working capital to support and implement the growth strategy.
Founded in 2007, MySale Group has achieved a track record of growth in each financial year to date. As at 14 May 2014, the Group had approximately 795,000 active members across its eleven established online sites in Australia, New Zealand, Singapore, Malaysia, Thailand, the Philippines, Hong Kong, South Korea and the US. The Group has approximately 10.8 million registered members with approximately 250,000 new members joining the Group's online sites every month.
Commenting, Jamie Jackson, Executive Director and Vice-Chairman said:
"We are delighted with the success of our initial public offering and we welcome our new shareholders. We look forward to keeping them up to date with our progress in the exciting times ahead as we continue to build on our leading position in Australia, New Zealand and South-East Asia and leverage this experience across an expanding international footprint, starting this year in the US and UK."
Macquarie Capital is acting as financial adviser, NOMAD and joint broker to the Company. Zeus Capital is acting as joint broker to the Company.