By Scott Wright

SHARES in Parsley Box, the fast-growing Scots ready-meal delivery company aimed at the Baby Boomer generation, had their maiden day of trading on the stock market yesterday.

The stock took its bow on the Alternative Investment Market following an over-subscribed initial public offering (IPO), which valued the Edinburgh-based company at £84 million, based on a placing price of 200p per share.

Shares in the company reached a high of 211p yesterday, before closing the day at 185p.

The IPO netted £12m for selling shareholders, including founders Gordon and Adrienne MacAulay, chief executive Kevin Dorren, chairman Chris van der Kuyl and business partner Paddy Burns.

The decision to float followed a period of rapid growth for the company, which has seen demand for its products soar throughout the pandemic. With an active customer base of around 500,000 registered users, it delivers to around 900,000 products to customers every month. Sales hit £24.4m last year.

Mr Dorren, who now holds an 11.6 per cent stake in Parsley Box, said: “From an idea cooked up at the kitchen table to IPO in just four years is an incredible achievement and we’re proud to be celebrating this milestone together with our customers. The business has grown rapidly, but for us it is just the beginning of our journey serving the Baby Boomer + demographic.

“We are very pleased to welcome our new shareholders, both institutional investors and our customers who have endorsed the business by taking a stake in the company’s future.

“I am looking forward to leading the business through our accelerated growth plans to become a household name.”