Member Article

Lancashire Revolution Bar’s IPO worth £100m

Lancashire Revolution Bars announced its IPO would be worth £100m based on its initial offer price for shares of 200 pence per share.

The Group has a portfolio of 58 bars, in towns or city high streets across the UK, operating under the Revolution (53 sites) and Revolución de Cuba (five sites) brands.

The announcement for its intention to float in February where the chief executive officer said that the move should help with the group’s growth strategy.

The offer is for 4.2m shares which represents 86% of Revolution Bars Group’s total shares.

Admission to the London Stock Exchange is expected to happen at 8am on the 18th March 2015 however

Chief executive officer, Mark McQuater, said: “We are excited to begin this next stage of Revolution Bars Group’s development.

“ On behalf of the Board, I would like to thank all of our employees, customers and investors for their commitment to the Group.

“With their support, we believe we are ideally placed to proceed with our growth strategy and roll-out plans for Revolution and Revolución de Cuba.”

The group reported a revenue of £108.7m for the financial year ending 30 June 2014.

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