Sweet and sour: Hotel Chocolat raises equity as Covid-19 hits UK SMEs

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By Sam Kerr
20 Mar 2020

Hotel Chocolat, the UK chocolatier and retailer, sold 9.77m new shares after revealing that its revenues in March have been damaged by the Covid-19 coronavirus; the company hopes the capital will give it flexibility in the weeks and months ahead. More UK SMEs will no doubt follow it to market over the next few weeks.

The retailer sold new shares at £2.25 in order to raise £22m to fund growth capital investment and to “provide additional headroom” for the company. 

The transaction was launched in the morning of Friday March 20 and was run by Liberum Capital. The transaction was grown in size ...

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