Asos plans move to main market of London Stock Exchange

Asos said it would move to the main market of the London Stock Exchange after 20 years on Aim, as the online clothes retailer reported sales growth despite supply chain challenges. Asos, which listed on the Alternative Investment Market in 2001 and has been one of AIM's largest companies, said it planned to move to the main market by the end of February 2022, as it seeks to attract more investors. Mat Dunn, chief operating officer, said: "The time is now right to move to the main market as we focus on delivering our medium-term guidance and longer-term growth ambitions." Dunn said that Asos had had a "Robust" start to the year in line with guidance, despite challenging market conditions. Sherri Malek, an analyst at RBC Capital Markets, said the move to the main market was "Another positive step for the share price".

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