Hotel Chocolat makes its debut on AIM
Investors have been keen to take a bite out of the chocolate retailer with shares having risen to 190p on its first day on the LSE's junior market
Chocolatier Hotel Chocolat made its debut on the Alternative Investment Market (AIM) yesterday, and has celebrated early success with shares having risen from the 148p placing price to 190p on its first day.
Having announced its intention to raise £50m by floating on AIM back in March, institutions including Hargreave Hale and Old Mutual have invested in the company alongside private investors.
Launched in 1993 by Angus Thirlwell, Hotel Chocolat specialises in premium chocolate products and sells these online and through its 84 stores in the UK and overseas.
The company recently posted revenues in excess of £81m for the year ending June 2015 and Thirlwell had previously said that listing on London’s junior stock market was the “next logical step in [its] growth plans”.
Given its early success, some critics have dubbed Hotel Chocolat’s AIM listing the “float of the year”.