The listing, planned for June on the alternative investment market, would value the company at more than £200m. Oakley Capital, Time Out’s controlling shareholder since 2011, has confirmed “it has commenced a process of review of the investment in Time Out”.
It said this “may or may not lead to the partial sale of the group at a valuation that could be enhancing to the net asset value of” Oakley Capital. Sky News first reported that Oakley Capital wants to raise around £80m through the flotation, which is being handled by investment bank Liberum.
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