Online women's fashion retailer Sosandar, formerly known as Orogen, has started trading on AIM following the reverse takeover of Thread 35.
The company has a market capitalisation of approximately £16.1 million at the issue price of 15.1 pence per share.
Sosandar launched in September 2016 by former Look magazine editor Ali Hall and former Look and InStyle publishing director Julie Lavington.
The company is targeted at women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic.
This targeted market segment was estimated to be worth, for the year ended December 2016, £3.7 billion.
Thread achieved total gross sales for the 11 months ended 31 July 2017 of £847,000 and net sales (after returns) of £478,000.
Lavington said Sosandar intends to expand its market share in the already large and successful, yet still growing online fashion market.
Investment will be used to further extend the product range and develop brand awareness among potential customers.
At 8:21am: (LON:SOS) share price was +19.5p at 19.5p