Severn Valley Railway shares sale off to a strong start
Delighted Severn Valley Railway bosses were this afternoon celebrating the early success of its shares sell-off as they raised £130,000 in the first few hours of trading.
Railway chiefs said they had been inundated by interest in the shares which went on sale at 9am today. Bosses at the 16-mile line, which runs between Bridgnorth and Kidderminster, say the shares could bring in a whopping £3 million.
David Mee, SVR visitor services manager, said: "We have seen a tremendous amount of interest and we've been sending out a lot of information about the offer.
"A lot of people have also been requesting information from us and today we have received in excess of £130,000.
"The formal launch event is being held October 13 and 14, where visitors can join members and current shareholders to discuss the plans in more detail."
The attraction is offering the chance to buy shares at a minimum investment of £100.
Shareholders will be given discounts and a say in the running of the railway.
They will also receive complimentary tickets and travel privileges, and exclusive incentives, depending on the number of shares bought.
The heritage line hopes the sale of the £1 shares will fund the building of a new visitor centre, station gateway and spectator gallery.
The money will also go towards creating a training academy.
Further ideas to spend the projected £3 million include restoring the Hagley Hall locomotive – which has not worked for more than 23 years – and carrying out further maintenance to the line and its infrastructure to preserve it for decades to come. The plans will also mark the 150th anniversary of the line.
John Hurst-Knight, Shropshire councillor for Bridgnorth West and Tasley, said: "The Severn Valley Railway brings in a lot of tourists to Bridgnorth, especially during holiday periods and weekends, and the town depends on that.
"If we lost that tourist attraction it would be very bad for the town.
"I know we at Shirehall are very keen to do whatever we can to help out the Severn Valley Railway."
The railway carries about 250,000 passengers a year.
