Bonmarché has listed on the AIM stock exchange this morning almost two years after the business fell into administration.
The value fashion retailer began selling shares at 8am under the ticker ‘BON’.
The firm has been valued at around £100m, which is lower than the anticipated valuation of between £110m to £130m.
Private-equity owner Sun European has retained a 52.4% share in the firm after selling 40% of its stake for the stock exchange listing.
Investec is acting as financial adviser, nominated adviser and broker to the company.
In its first year of trading under its new owner Bonmarché revealed a pre-tax profit of £10.5m in the year to March 31, with sales of £170.3m