DNEG plans London stock market listing

DNEG plans London stock market listing

Award-winning DNEG, the visual effects company that won a Bafta for its work on Blade Runner 2049, is planning to list on the London Stock Exchange. 

The London-based company plans to raise £150million, which it says it wants to use to fund growth and pay down existing debts.

It said the offering would include new shares and shares to be sold by existing shareholders. It intends to have a free float of at least 25 per cent of the company.

The group, which employs nearly 7,000 people across the UK, India, the US and Canada, was created in 2014 following a merger between Double Negative and Prime Focus, which was founded by Malhotra.

DNEG – which produced special effects for TV series Chernobyl and the last series of Black Mirror among the others – raked in revenues of $309million (£245.5million) in the year to the end of March and adjusted pre-tax profits of $69.6million (£55.3million). 

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