UK: BrewDog struggles to sell shares
BrewDog, the independent UK brewer, has extended the deadline for a share issue after struggling to raise the necessary investment.
BrewDog set back the deadline last week amid concern that it would not raise its minimum requirement of GBP500,000 (US$800,000) from the share offering.
The brewer, which produces Punk IPA, said late last week that its initial public offering, named Equity for Punks, will run until 19 February.
In the end, the brewer said it achieved the necessary GBP500,000 by the end of the week. However, this figure remains a long way from maximum potential proceeds from the offering of GBP2.3m.
BrewDog issued 10,000 shares at GBP230 each on 20 October last year. Proceeds will pay for the Scotland-based brewer's expansion plans, including a new brewery.
"2010 has started well for us, we have a very solid order book for January and February," said the group, which also announced the appointment of a financial director last week.
Sectors: Beer & cider
- Remy, dead cats and the power of China's new year
- Focus - Remy Cointreau's YTD Performance by Brand
- Will Lucas Bols' IPO Bring Much Needed Stability?
- A Dangerous World and the Threat to Beverages
- Price drops would damage our DNA - Remy Cointreau
- Moët Hennessy unveils first Travel Retail outlet
- Pernod unveils Jameson bottle for St Patrick's Day
- Maxxium UK head to depart for Edrington role
- Remy eases declines as China hints at recovery
- SABMiller beer volumes fall as China holds back Q3
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- just-drinks on-trend: Craft beer - fortunes and future
- The Sugar Backlash and its Effects on Global Consumer Markets