Virgin Wines makes stock market debut after successful float

Virgin Wines will make its stock market debut today, which based on placing price will give the business a market capitalisation of approximately £110m.

The online wine specialist is set to raise £35m from existing shareholders’ share sales, while the placing of new shares is expected to raise approximately £13m for the company.

Liberum will act as nominated advisor and sole broker of the business for its admission on to the stock market. 

Virgin Wines is the latest in a flurry of retailers to debut on the stock market or consider a float in recent months following The Hut Group and Moonpig.

In The Style is set to launch on the AIM division of the stock market in coming months, while businesses including Made.com are reportedly considering a float.

Virgin Wines chief executive Jay Wright said: “Today marks a truly exciting day in the history of Virgin Wines. Our successful IPO and admission to AIM represents a significant new chapter in the group’s long-term development.

“We have enjoyed strong, consistent growth leading to the group delivering more than one million cases of wine to our customers during 2020. We have a clear strategy to continue this growth over the coming years, which is underpinned by the strength of our customer proposition as well as the benefit of many positive consumer trends.”