Wine maker Chapel Down planning to list on AIM

(Sharecast News) - Wine maker Chapel Down announced plans on Thursday to move its share listing from the Aquis Exchange to the Alternative Investment Market (AIM) after a record harvest. The Kent-based company said the move to AIM will be in the best interests of its shareholders, and that it's a "more appropriate" market, given the growing scale of the business.

Chief executive Andrew Carter said: "We believe that a move to AIM will attract a wider pool of investors to participate in Chapel Down's growth as the leading producer in the world's newest global wine region and as we continue to pursue our well progressed and fully funded plan to double the size of the business in the five years to 2026.

"Today's confirmation of a record 2023 harvest, with tonnage 86% higher than 2022 and 75% higher than the previous record posted in 2018, is creating great excitement within our business, and will underpin our strategic ambition to double the size of the business by 2026 as we continue to build Chapel Down's position as England's number one and most celebrated winemaker."