AO World (AO.)

Sector:

Retailers

Index:

FTSE 250

100.80p
   
  • Change Today:
      10.95p
  • 52 Week High: 104.21
  • 52 Week Low: 62.30
  • Currency: UK Pounds
  • Shares Issued: 578.57m
  • Volume: 3,187,958
  • Market Cap: £583.20m
  • RiskGrade: 268

Mike Ashley's Frasers eyes up AO World - report

By Abigail Townsend

Date: Monday 11 Jul 2022

LONDON (ShareCast) - (Sharecast News) - Mike Ashley's Frasers Group is reportedly considered backing the £40m fundraising launched last week by white goods specialist AO World.
The Mail on Sunday, quoting unnamed City sources, said Frasers had been "trying to get involved" in the fundraising by either underwriting it or buying shares.

The sources added that Frasers, which owns department store chain House of Fraser, Sports Direct, Game and Sofa.com, among others, is seeking a relationship with AO World, with a possible long-term goal of eventually taking the online retailer over.

Frasers has yet to comment on the report.

AO World, which issued its third profit warning in three months in April, saw its share price slump last week after The Sunday Times reported that a credit insurer had cut its cover.

The retailer enjoyed strong demand during lockdown, when bricks and mortar rivals were unable to trade, but the cost of living crisis has since seen consumers cut back on big ticket items. It has also been forced to close its struggling business in Germany.

On Thursday, AO announced plans to raise about £40m in new capital, which it said would be used to bolster its balance sheet, boost liquidity and "provide flexibility to capitalise on market opportunities".

As at 1115 BST, shares in AO World were ahead 5% at 45.28p, while Frasers was largely flat at 697.0p.

Ashley is well known for building up stakes in businesses before taking full control, and acquired House of Fraser four years ago after building an 11% holding.

Frasers - formerly called Sports Direct - currently holds around 4.9% of Hugo Boss and a further 26% of stock indirectly via put options after first buying into the German brand in 2020.

Ashley owns 69% of Frasers. He stepped down as chief executive last month, to be succeeded by Michael Murray, his son-in-law, but remains an executive director.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AO World Market Data

Currency UK Pounds
Share Price 100.80p
Change Today 10.95p
% Change 12.19 %
52 Week High 104.21
52 Week Low 62.30
Volume 3,187,958
Shares Issued 578.57m
Market Cap £583.20m
RiskGrade 268

AO World Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.73% below the market average33.73% below the market average33.73% below the market average33.73% below the market average33.73% below the market average
68.42% below the sector average68.42% below the sector average68.42% below the sector average68.42% below the sector average68.42% below the sector average
Price Trend
86.63% above the market average86.63% above the market average86.63% above the market average86.63% above the market average86.63% above the market average
90.24% above the sector average90.24% above the sector average90.24% above the sector average90.24% above the sector average90.24% above the sector average
Income Not Available
Growth
27.43% below the market average27.43% below the market average27.43% below the market average27.43% below the market average27.43% below the market average
30% below the sector average30% below the sector average30% below the sector average30% below the sector average30% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

AO World Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 195,282 @ 100.80p
16:35 144 @ 100.80p
16:35 1,238 @ 100.80p
16:35 1,234 @ 100.80p
16:35 4,823 @ 100.80p

AO World Key Personnel

CEO John Roberts

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