The best regulated crypto exchange
Find out why?
50 BTC prize pool!
Get your share!
I'm in

Global visual effects firm confirms London Stock Exchange listing

By Ramla Soni

Oscar-winning special effects firm says London IPO listing will increase public profile

DNEG, one of the world's leading digital visual effects, animation and stereo conversion companies for film and television, is to list on the London Stock Exchange next month, raising £150 million to accelerate growth.

Submitted for approval to the Financial Conduct Authority, the company is looking to sell at least 25 per cent of new and existing shares and an over-allotment option of up to 15 per cent of the total offer size would be made available by an existing shareholder, Reuters reported.

The company intends to use the net proceeds from the issue of the new shares to finance growth plans and reduce net debt.

DNEG, which has worked on the Harry Potter films and the Avenger series, also believes that the offer would further support the group's growth plans by increasing its public profile and brand awareness as well as giving the group access to a wider range of capital-raising options.

DNEG has a global workforce of more than 6,900 with headquarters in London and operations in Canada, India and the US.

For the fiscal year ended March 31, 2019, the group generated total income of $309m (£239m, E277m) profit of $20.7 million and Adjusted EBITDA of $69.6m, resulting in an adjusted EBITDA margin of 22.5 per cent.

Like to share your thoughts and ideas about crypto and trading? You could join us as an external author. Email us on [email protected] to find out how you could become a contributor.
Subscribe to news
iMac Image
The most beautiful trading app
google play storeapple store
iPhone Image
iPhone Image