London Stock Exchange welcomes Grand Vision Media Holdings PLC to the Main Market
Simian Global Plc has successfully completed the acquisition of GVC Holdings Limited (“GVC”), the Hong Kong-based out-of-home digital media group. Renamed Grand Vision Media Holdings Plc (GVMH), the Fully Enlarged Share Capital was admitted to the Official List by way of Standard Listing and to trading on the London Stock Exchange’s Main Market for listed securities today.
Established in 2014, GVC identified the opportunity to deploy glasses-free 3D technology in digital out-of-home (OOH) media. The Directors chose cinemas as their first targeted OOH media platform to take advantage of the growth in cinema audiences in China in terms of box office, number of cinemas and number of viewers.
To-date, 180 panels have been installed in cinemas in more than 30 cities. The digital signage market globally is expected to reach almost $30bn by 2024, compared to approximately $15bn in 2015.
The completed transaction included a placing which raised gross proceeds of approximately £1 million, which will be used to purchase additional 3D panels and to fund the Group’s expanded operations both in China and other markets with similar growth potential. The Group will continue to develop new and innovative marketing and media platforms utilising cutting edge technologies and concepts.
At the placing price of £0.15/share, the Company will have a market capitalisation of approximately £14.4 million.