SCOTTISH craft brewer BrewDog is targeting a stock market float in 2020, its co-founder said.

At the company’s AGM James Watt said a UK listing was more likely but a US float is also “on the table” following the recent investment by private equity company TSG Consumer.

A flotation would help the company’s 75,000 “equity punks”, what it calls its retail investors, cash in their investments.

“We have always said our preferred way to give our investors long-term liquidity would be to become a public company,” Watt told the meeting.

Around 40 per cent of the company would be listed with Watt and co-founder Martin Dickie to remain the largest shareholders.

A year ago, BrewDog attracted a £1 billion valuation when TSG Consumer partners acquired 23 per cent of the company in a £213 million investment. That money was earmarked to fund its continued global expansion.

The company has already announced plans to open a brewery in Australia by next year.