London Stock Exchange Welcomes Matomy Media Group to its Main Market
London Stock Exchange today welcomed Matomy Media Group Ltd. to open its UK Markets, marking the initial public offering and admission of Matomy’s ordinary shares to trading on the High Growth Segment of the London Stock Exchange’s main market.
Matomy is one of the world’s leading digital performance-based marketing companies. Its customers are primarily advertisers, advertising agencies and other businesses around the world that promote or sell products and/or services to consumers through digital media, such as websites, mobile apps and social media networks. Matomy manages and optimises its customers’ digital marketing campaigns using the Matomy Performance Platform to maximise their reach to their target audience.
Matomy raised approximately £41.0 million (approximately $70.1 million) at an offer price of 227 pence per ordinary share, giving Matomy a market capitalisation of approximately £203 million (approximately $347 million) at admission.
Matomy intends to use a substantial portion of the net proceeds of the Offering to fund growth through such strategic activity. Of the remainder, Matomy intends to use $5.25 million to repay in full its 2013 term loans and approximately $0.7 million as consideration for the acquisition of the remaining shares in its Mexican subsidiary.
Ofer Druker, Chief Executive Officer of Matomy Media Group, commented:
"The admission of our shares to trading on the High Growth Segment of the London Stock Exchange’s main market is an exciting step for us, and marks a significant milestone in our development. I’d like to thank our institutional investors for their support, and the Matomy team for all their hard work, in making this achievement possible.
"We are honoured to have the opportunity to demonstrate the value of profitable digital media companies to the London Stock Exchange’s global investor community. Our commitment and passion for performance, and the outstanding ability of our team, leaves us well-positioned to deliver on our vision."