The Tasty restaurant group has floated on the Alternative Investment Market (AIM) following a placing at 52p per share, valuing the entire issued share capital of the group at around £11.75m.

Through placing its shares on AIM, Tasty is expected to raise approximately £1.75m. Combined with the group’s existing bank facilities and net cashflow, this will be used to open at least six further restaurants over the next 18 months.

Tasty currently operates three oriental-style dim sum restaurants in London’s Hampstead, Highgate and Charlotte Street areas, under the dim t brand.

So far, leases have already been agreed for three additional sites in Gloucester Road, London, Tunbridge Wells and Loughton, Essex.

For the year to December 2005, the group generated turnover of more than £2m, on an operating profit of £110,000 and gross profit of £950,000.

Prior to Tasty, the group’s directors were responsible for the rollout of the ASK and Zizzi restaurant brands.