Maiden Seeks Stock Exchange Listing

Outdoor advertising group Maiden announced today that it intends to seek a listing on the London Stock Exchange.

Maiden hopes that the flotation will provide funds to reduce its debt and allow its cash flows to fund further investments. In the last three years the group’s turnover has increased 52% to £36.5 million and operating profit by 77% to £5.9 million in the year ended 31st December 1995.

Maiden’s Chief Executive Ron Zeghibe said: “Current trends in the UK advertising market are favourable to further growth in the outdoor area and the industry is increasingly competing more effectively with other forms of advertising. With our leading market position we’re well placed to benefit.”

The group’s estate comprises some 25,000 poster sites which are focused primarily on the larger 48 and 96-sheet format. Over 50% of its sites are located in the London, South East and Anglia regions.

Maiden: 0171 629 3333