Ramsdens, which is advertised on the shirts of Middlesbrough Football Club, is seeking to raise £15.6m through an initial public offering (IPO) expected on 15 February.
The flotation on the Alternative Investment Market (Aim) is expected to price Ramsdens’ shares at 86p and value the company at £26.5m.
The company’s private equity owner, NorthEdge Capital, plans to retain a 31 per cent stake in the company.
“Today’s announcement marks a very exciting new phase in Ramsdens' development,” said Peter Kenyon, chief executive of Ramsdens.
“Ramsdens is an established, diversified and cash-generative business with a recognised and trusted brand. The group has a large, growing and repeat customer base and a clear strategy to deliver a number of growth opportunities.
“We are pleased with the strong response to the placing on Aim, reflecting investors' recognition of the group’s exciting prospects. We look forward to creating value for existing and new shareholders as a public company.”
Behind the deal
Liberum Capital is acting as nominated adviser, sole bookrunner and corporate broker to Ramsdens.
The team was led by Liberum’s head of corporate broking, Richard Crawley, with Joshua Hughes and Robert Johnson also on the deal.
Crawley joined the investment bank in 2013, moving from Espirito Santo, where he was head of corporate finance.
The banker was also advised struggling airline company Flybe on a 2014 share issue to raise £150m.