Moneycontrol Be a Pro
Get App
Last Updated : Oct 15, 2019 12:36 PM IST | Source:

Prime Focus gains 20% as UK arm files for IPO

The company intends to use the net proceeds from the issue of the new shares to finance growth plans and reduce net debt.

Representative image
Representative image
  • bselive
  • nselive
Todays L/H

Prime Focus gained 20 percent intraday on October 15 after the company's UK arm filed for an initial public offering (IPO).

DNEG said that it planned to publish a registration document that has been submitted to the UK Financial Conduct Authority for approval and was considering an initial public offering of its ordinary shares, as per the company’s BSE release.

The offer will comprise £150 million worth of new shares and existing shares to be sold by certain shareholders.


DNEG intends to use the net proceeds from the issue of new shares to finance further growth plans and reduce net debt.

"A London listing will continue our development as one of the world’s leading partners for the film, television and entertainment industries,” Chief Executive Officer Namit Malhotra said.

At 1213 hours, Prime Focus was quoting at Rs 48.20, up Rs 7.05, or 17.13 percent, on the BSE.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Oct 15, 2019 12:36 pm
Follow us on
Available On