View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
December 23, 2020updated 12 Apr 2021 11:11am

N Brown moves to AIM amid GBP100m equity raise

UK online clothing retailer N Brown has moved to the AIM, the London Stock Exchange's growth market, after completing its GBP100m (US$134.2m) capital raising this morning (23 December). 

By Beth Wright

UK online clothing retailer N Brown has moved to the AIM, the London Stock Exchange’s growth market, after completing its GBP100m (US$134.2m) capital raising this morning (23 December). 

The group first outlined plans for a pre-emptive equity raise in November, noting the move would strengthen its balance sheet and accelerate profitable growth.

Chief executive Steve Johnson said at the time the capital raise will give N Brown “the firepower to invest further in our digital capabilities and accelerate our growth strategy, whilst significantly strengthening the group’s balance sheet to provide us with ongoing flexibility and a strong platform from which to deliver attractive returns for all of our shareholders.”

The announcement came amid a drop in first-half profit and revenue.

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style