Seedrs toasts French wine equity raising

 
Oliver Smith
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Domaine Chanzy will use the £1.9m to expand its distribution
Seedrs, the popular London-based equity crowdfunding service, is breaking new ground this week with a French vineyard conducting its London stock market roadshow via the site.

Domaine Chanzy will raise at least £1.9m selling shares at a price of 120p through Seedrs.

The Seedrs roadshow is expected to run for four weeks from today, while Domaine Chanzy also raises funds through a traditional roadshow led by several City corporate finance firms, ahead of its debut on London’s Alternative Investment Market (Aim) around the beginning of March.

“Seedrs is developing a reputation for achieving ‘firsts’ in the financial services industry for crowdfunding,” said Seedrs chief executive and co-founder Jeff Lynn.

“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 [initial public offering],” he added.

On admission Domaine Chanzy is expected to have a market valuation of around £10m, with the funds raised allowing the business to develop its distribution networks and provide working capital. It aims to create a new wine brand targeted primarily at overseas consumers.

“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,” said Domaine chief executive Philippe Der Megreditchian.