(MENAFN- ProactiveInvestors) Highstreet vodka bar operator Revolution is to take a shot at a stock market listing.
The company is offering new shares to institutional investors as part of its plan to list on the main board of the .
Revolution is the latest in a string of consumer facing companies seeking to float in London though the market is deemed lukewarm. Whilst most IPO have completed many have been at the lower end of targets.
Cash raised through the IPO is being earmarked for the roll-out of new bars and the group says it will consider corporate acquisitions if suitable opportunities arise.
Chief executive Mark McQuater said: "Revolution Bars Group is one of the leading players in the UK's premium drinking out and casual dining out markets with a well-invested trading estate of 58 bars that is generating market-leading returns in this sector.
“We believe that a successful listing will complement the Group's growth strategy and help support our roll-out plans for the Group's branded bars in the UK."
Revolution reported £58mln of revenue for the six months to December 31 2014 and had earnings (adjusted EBITDA) of £7.9mln.
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