Market would allow existing shareholders to sell part of their vested equity to buyers
Wadworth’s famous 6X beer
A British brewery has drawn up plans to become the first company to join Asset Match’s new private markets platform as it continues to look to attract unlisted firms.
The online private stock market has welcomed Wiltshire-based brewer and pub operator Wadworth to its Private Intermittent Securities and Capital Exchange System (Pisces), enabling existing shareholders to offload a portion of their equity stake to prospective buyers.
Participants will be able to access company reports and auction details on August 4. Buyers and shareholders can submit orders during Wadworth’s first trading window of 11 August to 30 September, as reported by City AM.
Established in 1875, Wadworth has traded its A ordinary shares, a class of company equity which typically carries voting rights, on the Asset Match platform since February 2023.
The brewer, renowned for its range of traditional ales such as 6X, has traded more than 300,000 shares to date.
Ben Weaver, business development director at Asset Match, said the PISCES auction “represents the first opportunity” for a broader pool of investors to acquire shares in Wadworth.
Weaver said: “We believe there is strong investor appetite for established private companies with recognised brands, tangible assets and long-term growth potential.
“We expect Wadworth inaugural PISCES auction to attract significant interest.”
Simon Townsend, chairman of Wadworth, said the transaction would “broaden awareness of the company” among investors. Gaining traction.
Asset Match received its Pisces approval from the Financial Conduct Authority in April, and the flotation of Wadworth represents the first real test of whether the exchange can deliver liquidity to shareholders.
The platform must now persuade other firms seeking to unlock value without a full listing to choose their service over rivals JP Jenkins, Vestd and London Stock Exchange Group.
London’s platform welcomed fintech Moneybox last month, confirming a £45m employee share sale, alongside autonomous driving company Wayve in a substantial £63m employee share sale.
JP Jenkins has similarly onboarded just one company under its framework to date, completing the transaction of digital board game developer QPLAY in March. Vestd is yet to attract a single company to list on its framework.
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