23rd Jul 2021 16:54
(Alliance News) - Hotel Chocolat Group PLC on Friday announced that it had raised GBP40 million via an oversubscribed share placing as the British chocolatier eyes "becoming a global digital-led" brand.
The Royston, Hertfordshire-based firm placed over 11.1 million shares at 335 pence each.
Liberum Capital Limited and Peel Hunt LLP acted as joint bookrunners.
In addition, the company issued a total of 154,692 shares to retail investors via PrimaryBid.
The placing and PrimaryBid offer totalled 11.3 million new shares and represent around 9% of the existing share capital of the chocolatier. The firm's issued and paid share capitals now totals 137.1 million.
"The GBP40 million growth capital raised today will be invested in our fast-growing business, furthering our aim of becoming a global digital-led chocolate brand," said Chief Executive Angus Thirlwell.
"I'm delighted that our issue was oversubscribed."
The funds raised will be used on capital expenditure to increase long-term sales and capitalise on future growth.
The chocolatier has applied for the new shares to trade on AIM from Tuesday July 27.
Hotel Chocolat closed up 4.0% at 374.50 pence in London on Friday.
By Josie O'Brien; [email protected]
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