October 22, 2019 / 6:33 AM / 2 months ago

Hollywood visual effects firm DNEG confirms London IPO plans

LONDON (Reuters) - Oscar-winning special effects firm DNEG said on Tuesday it plans to list on the London Stock Exchange in November, raising 150 million pounds through the issue of new shares, to accelerate growth.

The company, which produces digital visual effects and has worked on the Harry Potter films and the Avenger series, is looking to sell at least 25% of new and existing shares.

The listing is also aimed to increase the public profile of the company, provide access to a wider range of capital-raising options and improve its ability to recruit, DNEG said in a statement.

DNEG’s management has already met investors in early stage meetings, known as “pilot fishing”, receiving enough interest to encourage it to proceed with the IPO process.

Reporting by Clara Denina, editing by Sinead Cruise

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