The Australian winemaker Palandri wants to list on the London Stock Exchange's Alternative Investment Market, according to a report from WA Business News today.

The decision is a departure from original capital raising plans set out in a prospectus released in December for a A$7.5m convertible note issue.

The report said that the AIM initiative is a response to a demand by National Australia Bank's that Palandri repay its A$9.2m debt by June 30.

In documents lodged with the Australian Securities and Investments Commission, Palandri said it believed a listing on the AIM is achievable by May 2004.