Two IPOs in less than ten days

Liberum has made a strong start to 2021. Fresh from the successful Virgin Wines IPO and just nine days later, Liberum’s Consumer Team completed the IPO of In The Style, raising in aggregate c.£110m across both these significantly oversubscribed transactions. Liberum acted as Nomad and Sole Bookrunner on both IPOs.

Clayton Bush, Head of Liberum’s Consumer Team said: “It’s testament to the quality of both companies and also the huge amount of investor interest we are seeing in the sector that we priced both deals at the top of the range. I’d like to thank the management of both companies, who have been a pleasure to work with, and also the Liberum team involved.”

Liberum Team: Both IPOs were led by Clayton Bush (Investment Banking), Wayne Brown (Consumer Equity Research), Oliver Baxendale (Equity Sales) supported by Liberum’s Consumer, Sales and Corporate and Investor Relations teams.

Virgin Wines UK is one of the UK’s largest D2C online wine retailers. It curates and sells its high-quality wines to retail consumers in the UK through two subscription schemes and a pay-as-you-go offering. The Group also sells a range of beers and spirits and operates a B2B sales channel for corporates.

In The Style is a pure-play e-commerce fashion brand with a loyal, growing customer base of women predominantly aged between 16 and 35. Founded in 2013 by entrepreneur Adam Frisby, In The Style champions female empowerment, inclusivity, body confidence and real beauty. The brand has innovated a differentiated influencer collaboration model - which sees it work with influencers on a long-term basis to collaboratively design, develop and promote branded fashion collections - as an authentic and cost-effective way to drive customer engagement and sales.

If you would like to know more, please contact:
Clayton Bush - Investment Banking Managing Director
+44 (0) 20 3100 2227
clayton.bush@liberum.com

Other key Liberum Investment Banking contacts:
Bidhi Bhoma - Chief Executive Officer 
+44 (0) 20 3100 2230
bidhi.bhoma@liberum.com
Richard Crawley - Head of Investment Banking
+44 (0) 20 3100 2251
richard.crawley@liberum.com
Neil Patel - Investment Banking Managing Director
+44 (0) 20 3100 2128
neil.patel@liberum.com
Chris Clarke - Investment Banking Managing Director
+44 (0) 20 3100 2190
chris.clarke@liberum.com

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