When Conviviality Retail, the owner of the Bargain Booze chain based in Crewe, in the north-west of England, completed an initial public offering last month, it was a rare example of activity originated outside the City of London.

Zeus Capital, a Manchester-based investment bank, led the £64 million deal for Conviviality's private equity backers ECI Partners. The IPO is the largest float on Aim, the London Stock Exchange's junior listings venue, so far this year.