Gear4music makes stock market debut
Gear4music, the online musical instrument and equipment retailer, has floated on the AIM Market of the London Stock Exchange.
In a statement, the company said it will use the £9 million proceeds from the placing to develop its e-commerce platform, invest in marketing initiatives and extend its range of products. It was also pay down debt and open a London flagship store.
Gear4music chief executive Andrew Wass said: “We have been thrilled by the investor enthusiasm and support for our admission to AIM and are very excited about beginning the next chapter in our development. I would like to take this opportunity to welcome our new shareholders and look forward to updating them and the wider market on our continued progress as we look to build on our strong track record of growth.”
