08/04/2011 The London Stock Exchange welcomes Perform Group plc to the Main Market
The London Stock Exchange today welcomes Perform Group plc (PER) to mark the first day of trading on the Main Market of the London Stock Exchange.
PERFORM is a global market leader in the commercialisation of multimedia sports content across multiple internet-enabled digital platforms and the owner of one of the largest portfolios of digital sports rights in the world.
Oliver Slipper, Joint Chief Executive Officer, said:
“This is the right time in our development to move to the public markets. Our market place is developing rapidly, with advances in technology and changes in viewing habits presenting ever greater opportunities. The listing provides us with the funds and platform to build further upon the progress we have achieved to date.”
“We are looking forward to life as a listed company. We are confident that our proven strategy and commitment to continue to increase the depth and breadth of our live sporting content for partners and sports fans alike will enable us to create value for all shareholders.”
Based on the offer price, the market capitalisation at the commencement of conditional dealings was approximately £586 million, before the exercise of the over-allotment option.
The principal use of the proceeds received by PERFORM is to grow the Company through strategic acquisitions and to exploit more fully organic growth opportunities.
Credit Suisse and Morgan Stanley are Joint Sponsors and Joint Global Co-ordinators of the Global Offer, with Credit Suisse, Morgan Stanley and UBS acting as Joint Bookrunners.