Wadworth Brewery Joins Asset Match PISCES as Inaugural Member

Wadworth, a Wiltshire-based brewer and pub operator founded in 1875, has drafted plans to become the inaugural member of Asset Match’s Private Intermittent Securities and Capital Exchange System (Pisces), according to the online private stock market. The move allows existing shareholders to sell part of their vested equity to buyers during a trading window scheduled from 11 August to 30 September, with company reports and auction details accessible starting 4 August.

The Mechanics of the Pisces Market Debut

The upcoming transaction marks a significant milestone for Wadworth, which has traded its A ordinary shares—a class of equity typically involving voting rights—on the Asset Match platform since February 2023. According to company figures, the brewer behind traditional ales such as 6X has traded more than 300,000 shares to date.

Ben Weaver, Business Development Director at Asset Match, stated that the Pisces auction represents the first opportunity for a broader pool of investors to acquire shares in the historic brewer. “We believe there is strong investor appetite for established private companies with recognised brands, tangible assets and long-term growth potential,” Weaver said, adding that the firm expects significant interest in the inaugural auction.

Simon Townsend, chairman of Wadworth, noted that the transaction would broaden awareness of the company among investors.

Competitive Pressures in the Private Trading Space

Asset Match received its Pisces approval from the Financial Conduct Authority in April. The float of Wadworth serves as an initial test of whether the exchange can effectively offer liquidity to shareholders of unlisted companies.

The platform now faces the challenge of convincing other private firms to use its framework instead of competing operators such as JP Jenkins, Vestd, and the London Stock Exchange Group. Market activity has picked up across several venues. The London’s platform welcomed fintech firm Moneybox last month for a £45m employee share sale, alongside autonomous driving company Wayve for a £63m employee share sale.

Meanwhile, alternative platforms have also begun securing transactions. JP Jenkins welcomed digital board game maker QPLAY under its framework in March, completing a transaction for the company. Vestd has yet to secure a company listing on its framework.

The unfolding auction window for Wadworth will provide a critical indicator of whether the Pisces framework can successfully bridge the gap between private ownership and retail-accessible liquidity in the UK market.