Artisanal Spirits makes sure-footed AIM debut
The Artisanal Spirits Company PLC (LON:ART) made a healthy start to its life on AIM, with the shares rising to 117.5p in early trades from a listing price of 112p.
Artisanal Spirits raised £15mln ahead of the float, with the money earmarked to developed its Scotch Malt Whisky Society arm. Existing owners sold a similar amount.
The society sells spirits online, has a presence in over 30 international markets and counts 28,300 members.
Customers can choose whiskies curated by a dedicated tasting panel with new batches released during the year and regular events organised for members and non-members.
Other high-value spirits such as single cask Bourbon, Indian and Japanese whisky, as well as single cask Armagnac, Cognac, gin and rum are also part of the mix.
David Ridley, managing director, said: “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.”
At 117.5p, Artisanal is valued at about £82mln.