Perform Group, the leading digital sports media company, has announced it plans to float on the London Stock Exchange.
Perform is looking to make an initial public offering (IPO) to float a minimum of 25% of the company, with hopes that the primary component of the share issue will raise about £70 million. Existing management and staff currently own 40% of the business and, along with US group Access Industries, will reduce their stakes as part of a secondary component to the flotation, which is expected to value the company at more than £500 million. [Read more…]