London Stock exchange welcomes Time Out Group Plc
Time Out Group plc, the multi-platform, global media business that has been known for discovering the brilliant and searching out the secret and extraordinary since 1968, was today welcomed to the London Stock Exchange to celebrate its entry to AIM.
The team behind the multi-platform media and e-commerce business with a global content distribution network comprising magazines, online, mobile apps, mobile web and physical presence via live events and a Time Out Market in Lisbon, gathered today at the exchange to celebrate entry to the AIM market, a step that marks the next phase of the company’s development and the springboard for the next phase of their three pronged growth strategy.
The capital raised will be used to invest in this strategy, accelerating Time Out’s plans to scale and further monetise its platforms, focusing on digital advertising, e-commerce and Time Out Markets. Plans include investment in e-commerce to offer more booking opportunities, and increase the number of transactions, and the rollout of Time Out Market – the first outpost of which in Lisbon attracts between 35,000 – 65,000 people per week.
Today, Julio Bruno, Chief Executive Officer of Time Out Group, said:
“Today is a milestone event for Time Out, a company with a long history of being a trusted platform for those who are looking for inspiration, and to experience the very best the world’s cities have to offer.
As we celebrate the next phase of our development we look forward to further inspiring our consumers to discover, book and share, and to continue to put cities in the palm of consumers’ hands. I am delighted to be listing to be listing on AIM today, in the same city Time Out was founded in 1968, along with my experienced management team, and with a high-quality institutional shareholder base, as we look to our future as a listed company.”
Julio and the management team were joined by advisers from Liberum Capital Limited, Nominated Adviser and Sole Bookrunner to the Company, Ashurst and FTI Consulting.