LBG Media, the Manchester-headquartered group behind titles LADbible and UNILAD, has announced it has finalised a £360m float on the London Stock Exchange’s AIM market.
LBG Media, founded by Solly Solomou and Arian Kalantari in 2012 while at university in Manchester, also announced it has raised £30m for the company with £81.1m for selling shareholders.
The admission to AIM aims to support the group with its growth strategy and will enable the group to explore potential acquisition opportunities.
In a joint statement speaking about the news, Solly Solomou and Arian Kalantari, co-founders of LBG Media said: “Today is an important day for everyone at LBG Media and we’d like to thank our incredibly hard-working and talented team for helping us achieve this milestone. Back when we founded the Company in 2012 we were looking for a way to engage with young people just like us and we are incredibly proud that what we created back then now has over 262 million social media followers worldwide.
“We remain committed to creating exciting, engaging and socially responsible content that gives the youth generation a voice and appropriately represents their interests.
’’The reception we have received from investors has been very positive and we are excited to be embarking on the next of phase of our growth story with the listing on AIM providing us with the platform to continue to grow well into the future.”
Zeus Capital acted as a nominated advisor and sole broker on the placing and IPO.