(Alliance News) - Wine maker Chapel Down Group PLC on Thursday said it has begun trading on the AIM market, making the switch from the AQSE Growth Market.
The Tenterden, Kent-based firm in November said AIM is a "more appropriate market for the company and will enable it to attract a wider pool of investors and improve liquidity over time".
"We are pleased to announce Chapel Down's admission to trading on AIM, a move which reflects the maturity of the business and the ambitious growth plan we are committed to delivering in the years ahead. Chapel Down has greatly benefitted from its AQSE listing over the past 20 years as it has grown from a start-up in an embryonic industry into England's leading and largest winemaker with a consistent track record of profitable growth," Chief Executive Officer Andrew Carter said.
"We believe that a move to AIM will attract a wider pool of investors to participate in Chapel Down's growth as the leading producer in the world's newest global wine region and as we continue to pursue our well progressed and fully funded plan to double the size of the business in the five years to 2026."
Chapel Down shares traded at 55.45 pence each in London on Thursday afternoon, so 1.8% higher than its AQSE closing price of 54.45p on Wednesday.
By Eric Cunha, Alliance News news editor
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Chapel Down Grp (CDGP)