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February 21, 2022

Asos move to main London Stock Exchange imminent

UK online fashion retailer Asos says the last day of trading on AIM will be today, with its ordinary shares to start trading on the Main Market of the London Stock Exchange tomorrow.

By Beth Wright

Asos says its ordinary shares will be admitted tomorrow (22 February) to the premium listing segment of the Official List of the Financial Conduct Authority (the FCA) and to trading on the main market for listed securities (the ‘Main Market’) of London Stock Exchange.

The last day of trading of the company’s ordinary shares on AIM will be today (21 February) and the ordinary shares will be delisted from AIM with effect from 7.00 a.m. tomorrow.

The ordinary shares will be admitted to the premium segment of the Official List and to trading on the Main Market from 8.00 a.m. on 22 February.

Asos adds it is not offering any new ordinary shares nor any other securities in connection with admission. Following admission, the company’s ticker symbol will continue to be ASC.

Asos announced plans to move to the Main Market of the London Stock Exchange last month amid a 2% rise in total group revenue for the four months to 31 December.

Speaking at the time, COO Mat Dunn said: “Our listing on AIM for the past 20 years has been an important part of Asos’ development, but the time is now right to move to the Main Market as we focus on delivering our medium-term guidance and longer-term growth ambitions.”

The retailer said total group revenue for the four-month period increased by 2% on a reported basis to GBP1.39bn (US$1.91bn) from GBP1.36bn a year prior.

It also reiterated its guidance for the full year, with revenue growth is expected in the range of 10-15% and adjusted profit before tax of GBP110m-GBP140m

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