Hotel Chocolat

Hotel Chocolat, which makes and sells luxury chocolate in Britain, has revealed plans to raise about £50m by listing on Aim.  The IPO is expected between April and June and is forecast to value the company at about £150m.  It does not look as if the company is considering a retail tranche at the moment, but with its strong following and quality products, we are hopeful that retail are in their plans.

The company said it would use the proceeds to fund new stores and an improved website and boost its manufacturing capabilities.

Hotel Chocolat has 84 shops, including five that also have cafés, and 500,000 customers online.   It is likely that stores will be added as part of expansion plans. Funds raised from the  IPO are likely to be divided between its manufacturing plant in Cambridgeshire, physical stores and its website.

In the year to June 28 2015, Hotel Chocolat reported earnings before interest, tax, depreciation and amortisation of £7.9m on revenues of £81.1m.