Guardian and Apax share £80m from Ascential flotation

35% of magazine publisher and Cannes Lions festival owner Ascential, formerly known as Emap, floated for £800m at 200p a share Guardian Media Group and private equity group Apax have enjoyed an £80m windfall following the £800m stock market flotation of Ascential, the owner of assets including the Cannes Lions advertising festival.Ascential, which was formerly known as Top Right and runs 17 magazines including Drapers, Retail Week and fashion information site WGSN, has floated 35% of the company at 200p a share achieving the mid range of its target of an initial public offering valuing the business at up to £1bn. Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2016-02-09 00:00:00 UTC ]
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