Fashion etailer Boohoo has been valued at £560m as its management team plans to use the proceeds to drive its international growth.
Boohoo shares have been successfully priced at 50p and it plans to raise £300m.
Investors had come to the UK and Europe. Zeus Capital said it had benefited from the limited distribution of Ao.com shares as investors clamour to buy online stock.
The fashion etailer’s plans to use £50m to accelerate its expansion.
It plans to expand its Burnley warehouse and build the IT and infrastructure to support its overseas expansion.
International already accounts for 37% of its sales. It recently launched a French site but all other global sales come from its English language sites. Boohoo boss Mahmud Kamani said it was plotting further own-language sites.
In the 10 months to December 2013, sales soared 70% to £91.9m and adjusted EBITDA increased 188% to £10.1m.
Boohoo, which was founded by co-chief executives Kamani and Carol Kane, will join AIM on March 14.
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.”