Liberum acts as Joint Bookrunner on c. £19m Secondary Placing in Loungers

We are pleased to announce that Liberum acted as Joint Bookrunner on a Secondary Placing in Loungers PLC. Funds controlled by Lion Capital sold 9m ordinary shares representing 9.7% of Loungers’ entire issued share capital at a price of £2.10 per share.

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The Placing represents c. 25% of Lion’s stake in Loungers. Peel Hunt acted as Joint Bookrunner alongside Liberum. The Placing was priced at the mid-price of £2.10 which represents a 5% increase on the IPO price.

Loungers is an operator of 161 café/bar/restaurants across England and Wales under two distinct but complementary brands, Lounge (133 sites) and Cosy Club (28 sites). The Group's sites offer something for everyone regardless of age, demographic or gender and the Group operates successfully in a diverse range of different sites and locations across England and Wales.The Group is the only growing all-day operator of scale in the UK, with a strong reputation for value for money.

Liberum Team

Investment Banking – Andrew Godber, John Fishley, Louis Davies, Anthony Schia

Sales – Julian Collett, Lucy Sharma

Research – Anna Barnfather

General Counsel – Rebecca Gordon


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