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UK special effects firm mulls initial public offering to raise £150m

Easterneye.Biz Staff
By Easterneye.Biz StaffOct 15, 2019
Easterneye.Biz Staff
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BRITISH special effects firm DNEG, winner of five Oscars for work on blockbusters including Blade Runner 2049 and First Man, said Tuesday (15) it planned launching on the London stock market.

DNEG announced in a statement that it was mulling an initial public offering to raise £150 million, plus a sale of stock by existing shareholders.

London-based DNEG, which employs 6,900 people in Britain, Canada, India, and the US, will use any proceeds to grow the business and reduce debt -- but has yet to make a decision to proceed with the flotation.

DNEG chief executive Namit Malhotra said: "We now look to the next chapter in our exciting growth story and the opportunities that a London listing can bring, as we seek to build on the strong momentum we have generated over the past two decades."

(AFP)

initial public offeringspecial effectsuk

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