The Artisanal Spirits Company plc places Primary Bid offer ahead of AIM debut

(ART) has announced plans to raise £16mln with small investors as part of a listing on AIM in early June.

The Scottish outfit, which owns the Scotch Malt Whisky Society (SMWS), has launched an offer on Primary Bid where it will place new shares at between 112p and 121p

Existing shareholders will also sell their shares to raise a similar amount, UK Investor Magazine reported.

It’s not clear yet what size the whisky group will be valued.

SMWS, which sells spirits online, has a presence in over 30 international markets and counts 28,300 members.

Customers can choose whiskies carefully curated by a dedicated tasting panel.

SMWS releases regular batches of new whiskies throughout the year and hosts events for both members and non-members.

It also offers other drinks, such as single cask Bourbon, Indian and Japanese whisky, as well as single cask Armagnac, Cognac, gin and rum.

Last month it appointed Mark Hunter, previously president and chief executive of Molson Coors, as its new chairman.