The Wireless Group has set a price for its flotation, announced earlier this month (see TWG Prepares For Flotation). The radio company, which owns TalkSport and a network of local stations, will issue shares at 190p each, valuing the group at £183 million.
In a statement the group said it would issue just over 21 million new shares to raise 40 million pounds before expenses, and that the money would be ploughed back into acquisitions, new media opportunities and digital broadcasting.
Chairman and CEO Kelvin MacKenzie, said: “The flotation is an important step in the group’s development and will allow it to pursue its strategy of expanding its radio interests and exploiting its content and brands across new media platforms.”
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