London Stock Exchange welcomes Parsley Box to AIM

London Stock Exchange welcomes Parsley Box Plc to AIM today.

The Company’s Ordinary Shares were admitted to trading at 8.00am on Wednesday 31st March 2021, under the stock market ticker MEAL. The Placing price was 200p per share, resulting in a market capitalisation of £83.8 million.

Parsley Box delivers ready meals, that do not need to be stored in a fridge or freezer, direct to the underserved Baby Boomer+ consumer, broadly defined as those aged 60 and over. Its mission statement is to promote, support and celebrate independent living by making mealtimes easier and more enjoyable for everyone.

The core product range comprises over 60 single portion sized meals spanning various cuisines and has been expanded to include wines, spirits, cakes and desserts, as well as gifting options such as chocolates. Customers benefit from cupboard stored tasty meals that can be cooked within minutes, at a competitive price point with delivery as quick as the next working day.

Parsley Box has embraced the direct-to-consumer (D2C) model allowing it to gather detailed insights from customers, building meaningful relationships and allowing for high levels of innovation aligned with their demands. 

The directors believe that the success of Parsley Box, and their expectations for continued momentum, are based on the following key strengths:

•    Parsley Box is a challenger brand that is redefining the category, with first mover advantage supported by over 500,000 registered users
•    The Company targets the Baby Boomer+ generation in the UK, which is an under-served, large, growing and wealthy market
•    The structural shift in the grocery market, shows a growing trend in shopping for food online and an increase in the D2C business model
•    Parsley Box is highly scalable, operating a capital light model
•    There is significant scope to extend product and category range, which should lead to an increase in the average order value 
•    The market and business model is replicable in other countries

Kevin Dorren, Chief Executive Officer of Parsley Box, said: "Today we’re firing the starting gun on our next phase of growth. From an idea born at the kitchen table to IPO in just four years is an incredible achievement and we’re proud to be celebrating this milestone together with our customers.  

"The strong demand for our IPO from both blue-chip institutions and our own customers was a real endorsement of our business and the market opportunities that lie ahead of us. I'm pleased to welcome our new  shareholders on board.

"I'd also like to thank our employees who do so much day in, day out to ensure we deliver a great service. I am looking forward to leading the business through our accelerated growth plans to become a household name." 

Parsley Box partnered with PrimaryBid to give all eligible Parsley Box customers access to its IPO and finnCap Ltd acted as nominated adviser and broker to the Company in relation to the placing and admission to AIM.

Quick facts

Track
Market: AIM
Instrument market cap (£m)
55.47
Listing/Admission to trading
31 Mar 2021
Looking for new and recent issues?

More recent

33.32
London Stock Exchange welcomes HydrogenOne Capital Growth plc to the Premium Segment of the Main Market

HydrogenOne Capital Growth plc, the first London listed hydrogen fund, offers growth potential in clean hydrogen and related technologies. The Company offers investors diversified exposure to private equity and listed hydrogen companies on an international basis. The Company has today listed on the premium segment of London Stock Exchange's main market and qualifies for the Green Economy Mark.<

Learn more
London Stock Exchange welcomes Seplat Energy’s Capital Markets Day

Seplat Energy has today opened London Stock Exchange trading at an official Market Opening ceremony. 

Seplat Energy is a leading independent energy company operating in the prolific Niger Delta area of Nigeria and a leading supplier of processed gas to the domestic market. In 2014 the company completed the first ever dual listing on both the London Stock Exchange (LSEG) and

Learn more
London Stock Exchange welcomes Spinnaker Acquisitions Plc to the Main Market

Spinnaker Acquisitions Plc (“SPAQ”) is a newly established purpose-built cash shell aiming to support businesses and projects in the areas of Sustainability and Energy Transition. With interest in the green economy as keen as it is currently, the objective is to find a business valued at £5–30M with strong profit potential and likely market appetite. 

SPAQ is a company co-founded

Learn more
London Stock Exchange welcomes BIG TECHNOLOGIES PLC to AIM

Big Technologies PLC, the UK-based, remote people monitoring technology company, has today taken the next step in its long-term growth strategy as it is admitted to AIM of London Stock Exchange. It is now trading on AIM, having raised gross proceeds in excess of £200 million, with ticker BIG. At the placing price of 200p per share, Big Technologies PLC has a market capitalisation of £577 millio

Learn more