Home Business News This vaping firm is set for IPO next month

This vaping firm is set for IPO next month

by LLB Reporter
23rd Apr 18 3:33 pm

Targets raising £10m for a new stage of growth

Surpreme — a leading manufacturer and supplier of batteries, lighting, and vaping products— is set to become the first vaping company to list its shares on the London stock market.

The Manchester-based group today announced plans to list its shares on AIM — a junior market on the London Stock Exchange — as it targets raising £10m for a new stage of growth.

Supreme, which counts retailers Asda and Iceland among its customers, is led by chief executive Sandy Chadha.

Chadha said: “Over the last two decades we have established Supreme as a leading manufacturer and distributor of batteries and lighting, and more recently vaping, demonstrating our ability to leverage our extensive distributor and customer relationships to drive growth.

“With a track-record of growing revenues, achieving long-term profitability and strong cash generation, we remain well-placed to build upon this. “We are excited about our potential flotation on AIM, which I believe will provide a platform from which to execute on our growth ambitions and realise the next stage of our development.”

Supreme’s pre-tax profit for year to March 2017 was £6.9m.

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