London Stock Exchange welcomes Hotel Chocolat
London Stock Exchange today welcomes Hotel Chocolat Group plc, a premium British chocolatier and omni-channel retailer, to the AIM market following its successful IPO.
Hotel Chocolat manufactures premium chocolate and cocoa-related products and sells them direct to its customers. The Company sells its products online and through a network of 84 stores in the UK and abroad, with 94 per cent. of FY15 sales occurring in the UK. The Directors believe that Hotel Chocolat is the UK’s favourite premium chocolate brand, providing a differentiated, cocoa-rich taste at an accessible price.
The business was founded in 1993 by Angus Thirlwell and Peter Harris and has traded under the Hotel Chocolat brand since 2003. Hotel Chocolat has a strong and distinct brand that is at the core of its offering and is built on values of originality, authenticity and ethics.
The IPO placing raised gross proceeds of approximately £55.5 million, including £12 million raised by the Company which will be used to accelerate the Company’s growth capital expenditure plan. At the placing price of 148p, the Company will have a market capitalisation of approximately £167 million. The Company’s ordinary shares will trade under the symbol HOTC.
Angus Thirlwell, Co-Founder and Chief Executive Officer of Hotel Chocolat, said: “We are very pleased to have today listed successfully on the AIM market and welcome our new shareholders to Hotel Chocolat. Proceeds from the IPO will enable us to accelerate our growth plans, in particular invest further in our British chocolate manufacturing operations, in new stores and in our digital offering. We look forward with confidence to the next phase of our growth and development as a listed company.”
Liberum Capital Limited acted as Nominated Adviser and Sole Broker to the Company.