London Stock Exchange welcomes Shoe Zone plc to AIM
London Stock Exchange today welcomes Shoe Zone plc, a leading UK specialist value footwear retailer, to AIM.
The Shoe Zone business was acquired in 1980 by Michael and Christopher Smith (father and uncle respectively of current Chief Executive Officer, Anthony Smith, and current Chief Operating Officer, Charles Smith.) Through both acquisitions and organic growth, Shoe Zone has become the leading UK specialist value footwear retailer. Shoe Zone operates from a portfolio of 553 stores and employs approximately 4,100 employees across the UK and the Republic of Ireland.
The company issued 50,000,000 Ordinary Shares at a price of 160 pence per share, trading on the AIM market with a market capitalisation of £80 million. Numis Securities is nominated adviser to the Company in connection with the Placing and Admission.
Commenting on today's announcement, Anthony Smith, Chief Executive Officer of Shoe Zone said:
"We are delighted that our initial public offering has been successful and are excited about the next phase of Shoe Zone’s development. We have secured a high quality shareholder base and we would like to welcome these new shareholders to the register and look forward to keeping them updated on our progress."