Future Lifestyle Fashions and Koovs plc, the leading e-commerce fashion business have reached a conditional agreement to subscribe for up to a 29.90% stake in Koovs subject to regulatory and procedural approvals. Koovs will issue Future Lifestyle Fashions with 57,876,600 new ordinary shares at a price of 10p per share, representing 24.8% of the current issued share capital raising pound 5,787,660 of cash.
Koovs has also opened a bookbuild to raise up to pound 10 million of equity at a price of 15p per share. Future Lifestyle Fashions has agreed to make additional investments to take its ownership up to 29.9%.
Future Lifestyle Fashions is an integrated lifestyle brands and fashion retail company. The company operates a portfolio of brands that are well diversified across key growth categories like women’s wear, fast fashion and casual wear.
Company Name | CMP |
---|---|
Avenue Supermarts | 4732.90 |
Trent | 5246.85 |
Aditya Birla Fashion | 328.35 |
Future Retail | 3.42 |
Electronics Mart Ind | 239.70 |
View more.. |