BrewDog share issue raises £500k in two days
BrewDog, the Scottish microbrewer and pub operator, has raised over £500,000 via a share issue in two days as it looks to raise £2.2m to finance a new eco-brewery and open more bars across the country.
The company, which launched in 2007, has branded the latest investment opportunity Equity for Punks and will again offer members of the public the chance to buy shares in the company online — BrewDog has made 90,000 shares available to buy in £95 packages.
BrewDog raised £750,000 in five months through a similar investment project in 2009, although this fell far short of its target of £2.3m.
BrewDog co-founder James Watt said: "We are completely overwhelmed with the results so far, we thought it was a mistake when told over half a million pounds worth of shares had been bought in just two days.
"This scheme arrives at a time when the masses are skeptical of banks, brokers and global mega corporations — when businesses growing rapidly are stalled by the banking crisis — it is an opportunity for everyone to show there is a different way; a better way. This is Punk Rock to the banks' Celine Dion."
The new investment will be used to expand its current two-strong bar operation to locations throughout the UK and to develop a new eco-brewery in Peterhead.
The company currently operates craft beer bars in Aberdeen and Edinburgh, with a further site set to pen in Glasgow in August. It also expects to open a flagship bar in Camden, London, in the same month.
The group plans to tempt new investors with a range of benefits, including a lifetime discount in all BrewDog Bars and at its online beer shop, as well as the first chance to buy special offers and limited edition beers.
