Revolution Bars prices shares at lower end

Since announcing its plans to float on the London Stock Exchange, high street chain Revolution Bars Group has been valued at £100m, with its IPO sitting at the lower end of its range.

Revolution Bars Group has priced itself at £100m in its initial public offering of shares

It was revealed last month that the bar group – which has been privately owned by equity group Alchemy Partners since 2005 – intended to sell its shares as part of a bid to fund a major expansion.

The operator is looking to expand its 58 Revolution bars and five Revolucion de Cuba bars to 100 and 40 venues respectively.

According to the Financial Times, the company has now priced its shares at 200p – the lower end of the expected 200p to 240p.

“It is a big moment for the business,” Mark McQuater, chief executive of Revolution told the publication. “We have been in private equity for a number of years.

“We are starting with a clean balance sheet and no debt. It is a very good starting point.”