Asos confirms move to main London Stock Exchange

The fashion giant will leave the junior AIM market on Monday and start trading on the main index on Tuesday.
Asos to move to main market. (Asos / PA)
PA Media
Simon Neville18 February 2022

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.

Following the move to the main market, Asos will look for a new chief executive to replace Nick Beighton (pictured), who left last year. (Asos / PA)
PA Archive

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.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in