Bargain Booze shares rocketed 30% in their first day’s trading on AIM.
Trading as Conviviality Retail, the franchised off-licence’s placing price was 100p, giving it a market cap of £66.7m.
But at the end of the day’s trading, the shares had rocketed to 130p.
Zeus Capital and Oriel Securities raised £64m to buy out private equity owners ECI Partners and other shareholders.
With a new management team led by former Waitrose director of convenience Diana Hunter, Bargain Booze is looking to extend further south beyond its heartland in the North West. It also plans to increase its food and wine offering.
The company operates 611 franchise stores under the Bargain Booze and Thorougoods brand names.