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Hotel Chocolat group, the premium British Chocolatier and multi-channel retailer, has announced that following placement of 11,267,605 shares, the company raised £40m to invest in development and to accelerate its digital-led brand strategy.
The company completed the placement of 11,112,913 new shares priced at 355p per share.
In addition, retail investors in the UK subscribed via the PrimaryBid Offer for a total of 154,692 new Ordinary Shares at the Placing Price.
All shares issued represents approximately 9% of the existing issued ordinary share capital of the Company.
As outlined in the Launch Announcement, the net proceeds of the Placing and the PrimaryBid Offer will be utilised to fund capital investment to increase long-term sales capacity and capitalise on anticipated future growth.
Angus Thirlwell, co-founder and chief executive officer, said: The £40m growth capital raised today will be invested in our fast-growing business, furthering our aim of becoming a global digital-led chocolate brand. I'm delighted that our issue was oversubscribed, demonstrating the support Hotel Chocolat enjoys with its investors.