BrewDog admits talks to sell almost a third of business

By James Wallin, MCA

- Last updated on GMT

Selling: BrewDog has been in talks about selling part of the business
Selling: BrewDog has been in talks about selling part of the business

Related tags Initial public offering Stock market

Scottish brewer and pub operator BrewDog has admitted it is considering the timescale for a potential initial public offering (IPO) and has been in discussion with investors about selling almost a third of the company.

In a letter to its shareholders the group said it was now in “ongoing” discussions with one of these potential investors.

It stressed that while the terms of investment had yet to be finalised the deal would not result in any new investor owning more 30% of the total issued ordinary shares post investment and would be for a subscription price in excess of £75 per share.

The letter is seeking permission from shareholders at a meeting on 29 March for the changes. It would involve the creation of a new class of preferred C shares.

The directors say they want to be in a position to “move quickly to complete the investment once the detailed terms of the investment are finalised”.

The group is also eyeing a fifth round of its Equity for Punks crowdfunding campaign later this year.

Related topics Beer MA Leaders Club Other operators

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