Footasylum, the British chain of sports and lifestyle stores created by the founders of JD Sports, went public on the Alternative Investment Market (AIM) London Stock Exchange on Nov. 2 at a price of £1.64 per share, giving it an initial valuation of £171 million (€194.3m-$226.0m). On Friday in advance of the IPO, the owners raised gross proceeds of £65.4 million (€74.3m-$86.4m) and net proceeds of £43.3 million (€49.2m-$57.2m) through a private placement and share subscriptions. About half of that will be used to help the chain, which had sales of £147 million (€167.0m-$194.3m) last year, to expand from 61 to 150 stores in the U.K. and Ireland. The Makin family will retain a controlling stake of 63 percent in Footasylum.

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