Hawthorn kicked off its IPO roadshow yesterday, with CEO Mark Davies telling MCA public markets were “as hot as they have been since 2011”.

Davies, who is seeking to spin the community pub company off from its parent New River, shrugged off concerns over Deliveroo’s IPO, citing the strength of support for Loungers and Fuller’s as showing the merits of a London listing.

The Hawthorn boss, who will lead the IPO process and step down from his position as New River CFO in due course, will present to 20 institutions over the next week, and said he already has a strong sense of support for the company community pub proposition.

He told MCA’s The Conversation: “I think the listed space, with the odd one or two exceptions, has demonstrated remarkable resilience. Of the listed pub owning companies, we’ve seen Fuller’s get strong support from the capital markets recently, you look at Loungers and their share price is £3, it was 150p a year ago.

“This gives the stock market confidence, particularly in our space, in the more suburban, community pub-owning model, so we think it’s a really good time to be doing this.”

Davies said his management team had been working on the plans for 14 months, and would have a much better idea of the demand once the roadshow begins.

He added: “Just looking at the quality of the institutions who want to meet with us, it gives me a good feeling about the support that’s out there for our brilliant sector right now.

“The IPO market is probably as hot as it has been since 2011, so there’s plenty of money out there - it is my job to go and find it and make sure the demand is there when we need it.”

To listen to this week’s The Conversation in full, click here.