French winemaker and vineyard Domaine Chanzy is to become the first company to conduct an IPO using crowdfunding, the company has announced.
It is also set to become the only French company listed on the AIM Exchange – listed under ticker symbol WINE.
The IPO has a goal of raising at least £1.9 million at a share price of 120p. Simultaneously investors will have the opportunity to invest a minimum of £10 through the Seedrs equity crowdfunding platform. This marks the first time in history crowdfunding is being used as part of an IPO campaign.
The money raised will be used to increase Domaine Chanzy’s distribution networks and create a new range of wine designed specifically for overseas sales.
Philippe Der Megreditchian, CEO of Domaine Chanzy, said the company was “delighted” to partner with Seedrs and launch the IPO in London.
“Domaine Chanzy will be unique in being the only French wine specialist listed in London as well as the only French company listed on AIM,” he added.
“We have ambitions to be one of the top wine producers in Burgundy and this unique approach to listing on AIM via crowdfunding will enable us to reach a wide investor base and deliver on our strategy.”
Seedrs co-founder and CEO Jeff Lynn said that Seedrs is gaining a reputation for creating firsts in the crowdfunding space.
“Investors and companies trust us to provide a secure and transparent platform for their transactions, so it was a natural next step for us to work with Domaine Chanzy to enable this unique IPO,” he continued.
“And with the great potential that Domaine Chanzy’s business has, combined with the extensive wine discounts on offer, we think this is going to be a very popular opportunity among investors.”