Investments  

Vineyard raises a glass to crowdfunded IPO

Vineyard raises a glass to crowdfunded IPO

UK-based equity crowdfunding platform Seedrs has announced it is hosting a campaign for the IPO of Burgundy vineyard Domaine Chanzy.

The company claims this is the first instance of a company conducting an IPO using crowdfunding and Domaine Chanzy will also be the only French company listed on AIM as well as the only French wine specialist listed in London.

The IPO seeks to raise at least £1.9m at a share price of 120p and investors will be able to invest as little as £10.

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Philippe Der Megreditchian, chief executive of Domaine Chanzy, said: “We have ambitions to be one of the top wine producers in Burgundy and this unique approach to listing on AIM via crowdfunding will enable us to reach a wide investor base and deliver on our strategy.”

In addition to the shares they purchase, investors will be offered discounts in Domaine Chanzy’s wines.

Investors who purchase a minimum of 1,000 shares will be entitled to discounts of up to 55 per cent.

The money raised through the IPO will allow Domaine Chanzy to increase production of its wines.

Adviser view

Bob Wilson, director of Norwich-based GreenSky Wealth, said: “Wine is not an area we tend to recommend our clients invest in but this is shares in a company so it’s a bit different.

“Depending on how well crowdfunding is monitored I don’t see a major issue with it.”