By Ian Walker
Shares of Artisanal Spirits Company PLC rose 4.9% as the company started trading on London’s junior AIM, implying a market capitalization of 81.8 million pounds ($115.4 million).
Shares of the Edinburgh-based holding company–the principal operating subsidiary of which is The Scotch Malt Whisky Society Ltd.–were trading at 117.50 pence at 0716 GMT compared with its initial public offering price of 112.0 pence.
Artisanal Spirits has raised GBP15 million of new money as part of its initial public offering, which will be invested into the business, including whisky and other spirits stock, membership promotion and its supply chain.
“With a clear vision for the future, we believe our company is at a significant inflection point in its development, and are thrilled by the prospect of sharing our success with our new shareholders,” Executive Managing Director David Ridley said.
Nplus1 Singer Capital Markets Ltd. acted as sole bookrunner and placing agent to the IPO. Nplus1 Singer Advisory LLP is the company’s nominated adviser and broker.
Write to Ian Walker at firstname.lastname@example.org