The number of flotations has been coming thick and fast in the relative post-referendum calm and the latest is hoping to score a strike with investors.
Private equity house Electra, alongside members of the senior management team at Hollywood Bowl, have sold down part of their holding to enable the company's float. The shares will trade under the ticker BOWL.
The company listed at 160p a share, valuing the UK's largest bowling chain at £240m on admission.
The group said the flotation would net gross proceeds of £181.3m for the selling shareholders. Electra will continue to hold approximately 17.8 per cent of the issued shares, though, while the directors and senior management team will own roughly 5.4 per cent. Electra's directors include Edward Bramson, whose Sherborne Investors spearheaded the boardroom coup at UK fund manager F&C earlier this decade.
Bowling has become the fastest-growing segment of the UK leisure sector, according to retail consultancy Pragma, with sales growing twice as fast as the rest of the market in the past two years.
