The London-based S&M (Sausage and Mash) Cafés group is seeking a private placing to raise £1m ahead of a planned flotation on the Alternative Investment Market.
Communications manager Joanna Hall said the company hoped to float towards the end of the year. The money raised would be used to open between two and three new S&M cafés in London within a year.
Before the flotation, S&M Cafés expects to open a new outlet within the next few months in the Fulham Road area, followed by a second in Camden.
The company targets a perceived gap in the market for good-quality licensed cafés selling traditional British dishes at low prices. All follow a 1950s and 1960s theme.
The group was founded in 2001 by Kevin Finch after he sold seven restaurants, including the south-west American-themed Montana, to the Hartford Group in 1999.
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