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IPO Watch: Rest Easy On Eve Sleep

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Online mattress retailer Eve Sleep has raised 35 million pounds in an initial public offering on AIM. The IPO values the company at 140 million pounds.

Shares of two-year old Eve Sleep is set to start trading on AIM on Thursday.

Eve's CEO and cofounder Jas Bagniewski in a statement said, "Today marks a new dawn in our vision to be Europe's leading sleep brand. With our simplified direct to consumer proposition, we are disrupting a fragmented European market, which is forecast to be worth approximately £26 billion by 2019."

"The funds raised will accelerate our growth strategy including through deepening penetration within our ten existing markets, as well as expanding our product range."

Last year, Eve generated sales of 12 million pounds, up from 2.6 million a year ago. The company said its revenue growth has continued "on a similar trajectory" so far this year.

by RTT Staff Writer

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