LADbible could float next week

Stephen Chapman's picture
by Stephen Chapman
LadBible

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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