Red Bell Brewing’s plans to go public this week hit a snag when early traders started swapping non-existent shares.
Brewery prez Jim Bell said he expected the stock (RDBL) to be formally listed on NASDAQ’s over-the-counter bulletin board by early next week.
“There’s a false market out there,” said Bell, who reported that premature trading had set the share’s price at $3.25. “We’ll wait till things cool down before it’s listed. ”
Meanwhile, the 6-year-old firm – which would be Pennsylvania’s only publicly traded brewery – has sparked a little buzz over its handsome stock certificates.
The six-color pencil drawing depicts the Brewerytown facility at the turn of the 19th century, when it operated as F.A. Poth & Sons Brewing Co. Poth closed during Prohibition; Red Bell has been operating on the site at 31st and Jefferson streets since 1995.
“Red Bell is all about marketing, so we didn’t want to come out with a plain-jane certificate,” Bell said. “We hope that as people see the certificate, they might want to buy a part of the company. ”
The certificate was created by New York’s D’Addario Design, which also designed several Red Bell labels.
Bell said he took the company public to attract funding for new brewpub projects.
It’s been rough going for the company in recent years, however. The company is still battling with former financial backers over the operation of brewpubs at the airport and Reading Terminal.