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LADbible could float next week


LBG Media PLC expects to be admitted to London Stock Exchange’s AIM Market on the 15th December.

The Manchester-based publisher, behind brands including LADbible and SportBible plans to issue 205.7m new Ordinary Shares at £1.75 per share.

In a Schedule One update, it said that its anticipated market capitalisation on admission would be around £360m, based on £30m new ordinary shares and £81m through a sale of existing ordinary shares.

The group will retain 69.18% of the shares at the time of the admission.

LAD Investments ltd will hold a 39.67% share of the company and will be the largest investor at the time of the admission.

Co-founders, Alexander Solomou and Arian Kalantari will have 2% and 2.7% respectively. However, as Solomou has control of Lad Investments Ltd, it will mean he is the largest shareholder with just over 40% of the group.

Makka Investments will hold 19.9%, and there will be new investors, abrdn (7.16%), Canaccord Genuity (4.3%), Slater Investments (3.85%) and MI Chelverton UK Equity Growth Fund (3%).

In a series of submissions to Companies House today, LBG Media plc has also formalised its team of directors, including Boohoo’s Carol Kane.

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