Online retailer Boohoo has placed 22.7m new shares, raising £50m which it plans to use to build a new, 600,000 sq ft super-site warehouse.
The company’s co-founder, Mahmud Kamani, and his siblings also sold 36.6m shares in the retailer, banking £80m.
Sales more than doubled in the first quarter, to a higher-than-expected £120m. Full-year sales are now expected to increase by 60%, up from the 50% increase previously expected.
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