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Happy debut for boohoo

Shares in Manchester-based online fashion retailer boohoo soared by as much as 70% on its first day of trading as an Aim-listed company.

The company raised £300 million via the placing of 600 million shares at 50p each. The price valued the business at £560 million, but this reached as high as £952 million as the shares climbed to 85p, before easing back a little.

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