Omar Oakes
Jan 15, 2016

Cannes Lions owner Ascential confirms IPO

The company is owned by PE Apax Partners and Guardian Media Group, publisher of The Guardian

Cannes Lions owner Ascential confirms IPO
Ascential, the owner of Cannes Lions known as Top Right Group until last month, has formally announced its intention to float on the stock market.
 
As revealed by Campaign last week, the company had prepared for the flotation by setting up a publicly listed company called Trident Floatco on 4 January. A day later Trident Floatco was renamed to Ascential plc.
 
At present the company is privately owned by Apax Partners, the private equity group, and Guardian Media Group, the publisher of The Guardian.
 
Today the company announced that the flotation, or initial public offering, will be expected to take place next month as shares are admitted to the London Stock Exchange.
 
Duncan Painter, the chief executive of Ascential, said:"As a team we have created an industry leading company for informing and connecting business professionals across our exhibitions, festivals and information services products.
 
"These essential products enable our customers to win business and operate more efficiently. By continuously focusing on supporting our customers’ growth and success, we have reinforced the market leadership positions held by the majority of our products."
 
Ahead of the IPO, Ascential has appointed Scott Forbes to act as an independent chairman of the board of directors.
 
Forbes said: "The business has gone from strength-to-strength in recent years, transformed by an experienced management team with a proven track record of delivering consistent growth, high margins and business improvement."
 
(This article first appeared on CampaignLive.co.uk)

 

Source:
Campaign India

Related Articles

Just Published

9 hours ago

Goafest 2025 to feature Goafest Village, Advertising...

South Asia's largest advertising and media show adopts multi-stage format to promote creativity and industry collaboration.

15 hours ago

Ogilvy unifies social media offering in 16 APAC markets

In a major overhaul, Ogilvy has consolidated its expertise across 16 markets with 550 specialists to streamline social marketing. Jeremy Webb will lead the offering.

15 hours ago

Rasna acquires Jumpin for INR 350 crores

Eyes INR 1,000 crore revenue share of India’s ready-to-drink (RTD) market.

18 hours ago

RK Swamy bets on strategy amid shrinking ad spends

India’s only listed marcomms group takes a consulting turn—launching a brand strategy unit to counter profit dips, global rivals, and client belt-tightening.