London Stock Exchange today welcomed Loungers plc

London Stock Exchange today welcomed Loungers PLC, the operator of 146 café bar restaurants across England and Wales under the Lounge and Cosy Club brands, to celebrate its admission to trading on AIM.

Loungers, trading under the ticker “LGRS” successfully raised £83.3 million from leading investors, valuing the Company at £185.0 million on Admission.

The funds raised will be used, alongside new bank facilities, to provide the Group with an appropriate capital structure to pursue its growth plans which includes opening 25 sites per annum. Independent analysis by location planning consultants CACI has identified the potential for more than 400 Lounges and more than 100 Cosy Clubs in England and Wales.

Founded in 2002 by three friends who wanted to create a neighbourhood café-bar that they would want to go to, the Group is now the only growing all-day operator of scale in the UK and has consistently outperformed the wider UK hospitality sector (as measured by the Coffer Peach Business Tracker) over the past three years. That focus on hospitality, comfort, value for money and familiarity remains at the core of the Group, driven by an independent culture and focus on the local community.

The Group’s sites offer something for everyone regardless of age, demographic or gender and the Group operates successfully in a diverse range of different sites and locations across England and Wales.

Nick Collins, Chief Executive of Loungers, said:
"This is a hugely exciting time for the Company. Today’s listing marks the culmination of the consistent hard work from the entire Loungers’ family as it has long been our ambition to list the Company on the markets.    

"Loungers is a vibrant, fast-growing business with a clear strategy and our successful fundraising is a significant milestone in our growth journey.

 "We look forward to commencing life as a listed business and delivering long term value for all stakeholders."

GCA Altium Limited acted as Financial Adviser and Nominated Adviser, Liberum Capital acted as Joint Broker and Joint Bookrunner, Peel Hunt acted as Joint Broker and Joint Bookrunner, Jones Day acted as legal counsel and Instinctif Partners as financial PR.

Quick facts

Track
Market: AIM
Instrument market cap (£m)
305.65
Listing/Admission to trading
29 Apr 2019
Looking for new and recent issues?

More recent

London Stock Exchange welcomes Castelnau Group Limited to the Specialist Fund Segment to the Main Market

The London Stock Exchange today welcomes Castelnau Group Limited (‘Castelnau’), an investment company established to invest in public and private companies with the aim of outperforming the FTSE All Share Total Return Index over the long term.  The ordinary shares of Castlenau will be listed on the Specialist Fund Segment of the Main Market.</

Learn more
London Stock Exchange welcomes Light Science Technologies Holdings plc

Today, London Stock Exchange welcomes Light Science Technologies Holdings plc (“LSTH”) to trading on AIM under the ticker LST. In October 2021, LSTH successfully raised gross proceeds of £5 million (the “Placing”) and the Company’s market capitalisation on admission was approximately £17.5 million.

The net proceeds of the Placing, which are receivable by the

Learn more
London Stock Exchange welcomes JAXUSA Partnership and JAX Chamber

London Stock Exchange today welcomes the Jacksonville, Florida, delegation to open the market during their seventh annual sales mission. The delegation supports the mission of JAXUSA Partnership, a division of JAX Chamber that serves as Jacksonville’s regional economic development organization.

JAXUSA Part

Learn more
London Stock Exchange welcomes Tortilla Mexican Grill plc to AIM

Tortilla Mexican Grill plc (MEX), the largest and most successful fast-casual Mexican restaurant group in the UK, began trading on Friday 8 October on London Stock Exchange’s AIM. The IPO raised £5.0m of gross proceeds, and upon Admission the Company’s market capitalisation was £70.0m.

Tortilla offers a high-quality, affordable and freshly prepared Californi

Learn more