Asos confirms move to main London Stock Exchange
18 February 2022, 13:54
The fashion giant will leave the junior AIM market on Monday and start trading on the main index on Tuesday.
Asos has confirmed it will join the main London Stock Exchange from next Tuesday.
The move ends 20 years of the online fashion brand trading its shares on the junior AIM stock market, which bosses have resisted leaving previously.
Moving from the junior to main market involves greater scrutiny and signing up to additional rules.
But it also opens up companies to a greater pool of investors because some will only put their money into businesses listed on the main market.
Asos will hope the move allows it to continue expansion ambitions, with particular focus on overseas sales.
The move was one of the first decisions taken by Asos’s new chairman Ian Dyson, who replaced Adam Crozier last November.
His next step will be to find a new chief executive after former boss Nick Beighton left following a profit warning.
Interim chief Mat Dunn said: “Asos has set out a clear plan to deliver an ambitious growth strategy over the next three to four years and to deliver on the sizeable opportunities ahead for our business.
“Against this backdrop, the time is now right to move to the Main Market.”
He confirmed no new shares would be issued when they start trading on the FTSE main market from Tuesday morning at 8am.
