Supreme, one of the largest e-liquid manufacturers in Britain, is joining the London Stock Exchange in a bid to cash on the vaping boom.
The company, which owns brands such as 88vape and KiK, is wholly owned by Sandy Chadha, the company’s chief executive.
The Guardian reports that the company’s market value is expected to break the $200 million marker when its shares go public on the London Stock Exchange’s junior market known as AIM.
As for when the company intends on listing its shares for sale on the London stock market, the listing will reportedly occur sometime in May of this year.
This is, notably, the first time a UK-based vaping company has gone public.
The company manufactures more than 130,000 bottles of e-liquid per day and also makes vaping hardware as well as accessories. They reportedly intend to use some of the capital raised by their public offering to pay down debt and to expand its manufacturing operations in Manchester by building a new factory.
The company’s owner, Chadha, is expected to retain a majority stake in the company after it goes public next month. According to the BBC, he intends to retain a 55-60% ownership stake in the company.
In the past year, the company has exceeded $96 million in revenue.
The business was originally established by Chadha’s father in 1975 after the family relocated from Delhi to Britain. At the time, the younger Chadha, now the owner and CEO, was just two years old.
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