The Media Business Group has today confirmed it is to float 83.3m shares at 3p per share, and has applied for Listing on the London Stock Exchange. The placing will raise around £1.5m for the company.
The Media Business Group, the largest privately owned media independent in the UK is now one of the ten largest media buyers; its clients include Direct Line Insurance, Mercury Communications, Revlon and Mazda Cars. In the year ended 30 April 1995 TMBG increased its pre-tax profits from £631,000 to £920,000. The placing values the company at £8m, and it will have net cash of approximately £4m.
The Group hopes the placing will allow it to expand, and make acquisitions and alliances. It also states that the increased attraction of share ownership should help the Group to attract and retain high calibre staff.
TMBG: 0171 408 4400
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