The admission to the AIM listing has seen the firm raise £9m and several off-book trades, those not run through the exchange, have taken place.

The business, which has its headquarters in Rackheath, Norwich, runs 15 stores across the UK including the original site in Wroxham – which was opened by accountants Martyn Page and William Hill in 1986.

It also sells goods online and it is planned that £7.4m raised from the placing will be invested in opening new sites and boosting the e-commerce business.

Angling Direct chief executive officer Darren Bailey said: “Listing on AIM is a significant transition for the company as we seek to accelerate growth, namely through enhancing the company’s e-commerce platform and expanding our footprint of retail stores in the UK through new openings and acquisitions.

“Our aim is to deliver a modernised approach to traditional fishing retail and we believe that providing a best in class online presence and in-store retail experience will drive growth.

“We would like to welcome our new shareholders to the register and look forward to updating the market on our further progress in due course.”

The firm has been listed under the ticker symbol ANG.L.