Member Article

Lancashire’s Revolution Bars IPO valued at £110 million

Lancashire’s Revolution Bars, the company behind the chains Revolution and Revolución de Cuba has announced that its IPO is expected to have a price range of between 200 pence to 240 pence per Share.

This would mean that the total value of the IPO would be £110 million at the mid-range price.

The Offer will comprise of between 38.2 million and 48.1 million Shares, representing between 76.4% and 96.2% of the Shares on Admission.

Chief executive officer of Revolution Bars Group, Mark McQuater, said: “Revolution Bars Group is one of the leading players in the UK’s premium drinking out and casual dining out markets, with a well-invested trading estate of 58 bars that is generating market-leading returns in this sector.

“Both Revolution and Revolución de Cuba are premium brands which target a growing market where we believe a premium offering is in demand.

“We believe that a successful listing will complement the Group’s growth strategy and help support our roll-out plans for the Group’s branded bars in the UK.”

This was posted in Bdaily's Members' News section by Sophia Taha .