The UK's second largest ten-pin bowling operator, Ten Entertainment Group PLC has made its debut on the London Stock Exchange.
The share offering, which comprised 25% of the company's issued share capital, raised gross proceeds of £26.8m for the selling shareholders.
Following the float, private equity firm Harwood Shareholders will control approximately 69.4% of the company’s ordinary share capital, while directors of Ten Entertainment will hold around 5.6% of the group.
The firm, which trades under the Ten Pin brand and operates 40 sites, saw its group revenue has increased from £46.8m for the financial year ending 28 December 2014 to £67.3m for full-year 2016, while underlying earnings (EBITDA), adjusted for exceptional items, grew from £5.7m to £17.6m.
On current trading, Ten Entertainment posted a rise of 9.1% in total sales for the first 12 weeks of full-year 2017. Like-for-like sales were 5.7% higher against the same period in 2016.