A boutique California winery is planning a listing on the London Stock Exchange.
Napa-based Consentino Signature Wines has announced that it will float on AIM (Alternative Investment Market, part of the Stock Exchange) by the end of the month.
The company is valued at around £34m (US$60m). Chairman Larry Soldinger hopes to raise £17m (US£30m) in the flotation.
Cosentino sells about US$7m of wine a year – 45,000 cases – all of it in the US. It does not import any wine to the UK.
AIM, which was specifically designed for growing companies, is a popular way for a variety of overseas companies to float.
Soldinger said a public listing in America was not an option because of high regulatory costs.
Written by Adam Lechmere, and agencies