Fashion firm Boohoo eyes £560m valuation in float

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Online fashion retailer today said it expects to be valued at about £560 million when it floats on the Alternative Investment Market (Aim) next Friday.

The firm has priced its shares at 50p and said the initial public offering would raise about £300m to help fund its expansion and pay down its debts.

Boohoo was founded in 2006 by joint chief executives Mahmud Kamani and Carol Kane. Following its float, the board and the Kamani family will own about 44 per cent of the company.

Kamani said: “The placing and admission to AIM marks a significant step for Boohoo as we invest in this exciting growth opportunity underpinned by the rapidly growing online retail market.”