Capital Pub Company, the managed group established by entrepreneurs David Bruce and Clive Watson, have unveiled plans to list on AIM next spring. If successful it will be the first listing of a bespoke pub group for some years. KBC Peel Hunt has been appointed as broker and adviser to Capital, which was formed five years ago and operates 19 pubs in London. The group aims to raise expansion funds through the placing of additional shares to continue with its strategy of buying freehold managed houses. The news came as the group unveiled interim results, showing a 100% rise in ebitda to £2.04m, on sales up 50% to £6.75m. Subject to market conditions, the group plans to join London’s junior market in March. Clive Watson, finance director, said: “We have an obligation to provide out EIS shareholders with an exit. “David I feel that business is building up real momentum and we both want to continue.” The listing will be of Capital Pub Company I. The company, which was formed through tax-efficient EIS subscriptions, manages a second EIS-backed group called Capital Pub Company II. It is obliged to offer investors in this vehicle an exit in 2009. If Capital manages to get its IPO away, it is expected that it will eventually merge the two businesses.