--Perform seeks to raise GBP70m from IPO

Internet Business News
03-11-2011
--Perform seeks to raise GBP70m from IPO

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

11 March 2011 - Perform is preparing to raise GBP70m (USD112m/ EUR81m) through an initial public offering (IPO) on the London Stock Exchange (LSE), the Financial Times reports.
The planned flotation will make the group, which supplies third parties with online sports content and also runs its own services, including Goal.com, the first UK-based digital media group to list on the LSE since Moneysupermarket.com's IPO in 2007.

The company, which plans to use the proceeds to fund its international expansion, including acquisitions, could be valued at more than GBP500m upon listing, according to people familiar with Perform, in view of its strong compound annual sales growth in the last years, the very few digital media groups listed in London and the valuation of recently listed businesses similar to the company.

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