Joules confirms £144m IPO

Joules, the Market Harborough clothing brand, has revealed this morning that it is to float on AIM in an IPO that will value the company at £140m.

Joules says it has alreadt raised over half (£77.5m) of that amount, and if the IPO is successful founder Tom Joule will own 32.2% of the company.

Rumours have been circulating for weeks that Joules was lining itself up for an IPO.

Colin Porter, CEO of Joules, said: “Today’s announcement marks an exciting new phase in Joules’ development as a premium lifestyle brand.

“Joules is a much loved brand with a rare heritage and we are delighted with the strong response to the placing, reflecting investors’ recognition of the significant further opportunities for the Group both in the UK and internationally.”