The footwear retailer Shoe Zone has reported that it is preparing to float on Friday after announcing its priced shares are at 160p, giving the business a £80m value.
The business which is expecting to launch on the AIM market of the London Stock Exchange on Friday will have 50,000,000 ordinary shares in issue and a free float of 44.5%.
Chief Executive Anthony Smith and Chief Operating Officer Charles Smith, who both own the value footwear retailer, also announced that they would be selling a part of their stakes with none of the proceeds going to the company.
Anthony Smith 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.”
