Star fund manager Neil Woodford is expected to be among investors in line to pick up a stake in media group Time Out when it unveils plans for its London listing tomorrow. Time Out’s long expected float on the London junior Aim market is set to value the company at between £185m and £225m. The company, which has transformed its business model in recent years to become a digital media heavyweight, wants to raise £90m from the listing to fund expansion into new cities.
It’s thought Time Out will remain loss-making for several more years as it invests in expansion of its food markets business, marketing activities, and its range of digital products.
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