AIM listing likely for La Tasca chain

Investors at Spanish tapas chain La Tasca are considering listing the company on the Alternative Investment Market (AIM) to get a return on their money.

Penta Capital, which has been the chain's backer since September 2001, feels an AIM listing represents the company's best exit strategy, particularly as other restaurant groups have performed well on the stock market recently.

Parent company The Restaurant People, which owns the 47 La Tasca restaurants and two La Viñas, would have a market capitalisation of about £50m.

Money from the deal would be used to pay off the company's £15m of debt, while the ambitious expansion plans would be funded by cash generated from the business.

Chief executive James Horler, who together with his management team has a 20% share in the business, hopes to expand La Tasca to 150 units over the next few years.