Perform Plans To Float On Stock Exchange
The digital sports media company Perform Group, has announced it plans to float on the London Stock Exchange.
The company intends to make an initial public offering (IPO) to float a minimum of 25% of the company.
The primary component of the share issue is hoped to raise around £70m.
Management and staff currently own 40% of the business and, as part of a secondary component to the floatation, will reduce their stakes -as will US group Access Industries.
Oliver Slipped, the group’s joint-CEO, said: ‘The funds raised through the IPO will give us a substantial platform to grow further’.
Last month, Perform Group announced its acquisition of Goal.com, the world’s largest football portal.
Slipper added: ‘We have successfully followed a clear and proven strategy to build a high-growth, international digital sports media business which is balanced by geographies and products. This has been built on a portfolio of world-class sports content and global platforms underpinned by leading technology’.
