Time Out, the publisher that recommends things to do in cities from New York to Beijing, has conditionally raised £90m ahead of listing on London’s junior stock market, as it embarks on an ambitious growth plan. Founded as a magazine in London in 1968, Time Out has evolved into an international multimedia group providing restaurant, entertainment and shopping listings across 107 cities in 39 countries, reports Robert Cookson in London.
The company said on Thursday it has issued 60m shares at 150p apiece. The fundraising values the business at £195m and shares are set to start trading on Aim next week.
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