The market for initial public offerings has been gasping for innovation for a long time, with a growing number of equity bankers keen to reduce risk by securing investment before a deal launches. So when Burgundy winemaker Domaine Chanzy said it would crowdfund itself to an AIM listing earlier this month, the market raised a glass.

Ian Binnie, a partner specialising in AIM listings at law firm Hamlins, said: "One of the criticisms of the junior markets is a lack of liquidity so, from the point of view of access to capital, it's a welcome development.