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Deltic ready to party as IPO plans put back on the table

Nightclub operator Deltic has put plans for a public market ..

Nightclub operator Deltic has put plans for a public market float back on the table, mulling a capital markets day for later this month.

The capital markets day would allow Deltic, which operates under brands such as Pryzm and Steinbeck & Shaw

, to woo investors and gauge appetite for an initial public offering (IPO).

Deltic put plans for float on ice last year, blaming tough trading conditions, a refurbishment plan and Brexit, though chief executive Peter Marks has since said he remains open to the idea.

Read more: Deltic Group posts a loss but refurbishment and sales pushes increase admissions

Peel Hunt analyst Douglas Jack said Deltic was performing “considerably better than many others in the sector”, and that the capital markets day would be an “opportunity for the company to remind the investment community that the company is materially better than it was 10 years ago”.

City A.M. understands that a firm date for the capital markets day has not yet been set.

Deltic also made the headlines for its ultimately failed attempt to merge with Revolution Bars, which it then bought a three per cent stake in.

Revolution had planned to merge with Stonegate Pub Company, which went head-to-head with Deltic, but the deal was dismissed by shareholders.

Under takeover rules, Deltic would be allowed to launch a new offer for Revolution from Tuesday.

Read more:Deltic muscles in on Stonegate's Revolution Bars bid with new offer

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