(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
----------
AIM - WINNERS
----------
Made Tech Group. Shares in the software company start trading after it raised GBP85.4 million in its initial public offering. The oversubscribed fundraising raised gross proceeds of GBP15.0 million for the company, and GBP70.4 million for selling shareholders. Upon admission, Made Tech has a market capitalisation of GPB180.7 million at a placing price of 122.00p per share. The stock is quoted at 145.00p, up 19% from the IPO price in late morning on Thursday.
----------
AIM - LOSERS
----------
7digital Group PLC, down 39% at 0.54p, 12-month range 0.50p-2.10p. Shares in music licensing provider hit fresh 12-month low as it posts widened loss. Pretax loss widens to GBP1.9 million in the six months ended June 30 from GBP1.0 million last year. Revenue rises 6% year-on-year to GBP3.3 million from GBP3.1 million. Says that some contracts the company expected to sign in the second half have been pushed back until the first half of 2022, as a result of licensing delays. 7digital says it will not achieve full-year earnings before interest, tax, depreciation and amortisation profitability.
----------
boohoo Group PLC, down 10% at 230.30p, 12-month range 212.20p-402.30p. The online fashion retailer warned that Covid-19 is still hitting consumer demand and cautioned on rising costs as inflationary pressures accelerate. Rising costs have hit profits, however. Pretax profit fell 64% to GBP24.6 million, from GBP68.1 million a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation margins guidance has been lowered. The AIM stock now expects full-year adjusted Ebitda margins between 9.0% and 9.5%, the range lowered from 9.5% to 10% previously. Peer ASOS was down 4.4% in a negative read-across.
----------
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
ASOS (ASC)
Boohoo (BOO)
Made Tech (MTEC)
