AO World opens London Stock Exchange trading celebrating IPO
- Richard Rose, Chairman of AO World opens London trading after company raises £423m at IPO
- Online retailer valued at £1.2bn at IPO
London Stock Exchange today welcomed AO World, the UK’s leading online retailer of major domestic appliances to open trading. Richard Rose, the company’s Chairman formally opened trading, celebrating its £1.2bn IPO. The company raised £423m at admission.
The retailer is the second tech company to list in London this year and the first Future Fifty business to list since the scheme was launched in April last year. Joanna Shields, Chair of Tech City UK, joined AO World on the London Stock Exchange balcony this morning.
Xavier Rolet, CEO, London Stock Exchange Group said:
“We’re delighted to welcome the first ‘Future Fifty’ company IPO. It is vital that we get behind success stories such as these to demonstrate London’s ability to finance and support fast growing technology businesses. The launch of initiatives such as ‘Future Fifty’ and the High Growth Segment, coupled with the strong support of the UK government, demonstrates our collective will to position London as the international centre for high-growth technology businesses.”
AO World’s £1.2bn market cap at IPO, makes it one of the largest technology IPOs in London over the last five years, second only to Betfair Group.
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