Cannes Lions owner Ascential confirms IPO

Ascential, the owner of Cannes Lions known as Top Right Group until last month, has formally announced its intention to float on the stock market.

Duncan Painter, the chief executive of Top Right Group
Duncan Painter, the chief executive of Top Right Group

As revealed by Campaign last week, the company had prepared for the flotation by setting up a publicly listed company called Trident Floatco on 4 January. A day later Trident Floatco was renamed to Ascential plc.

At present the company is privately owned by Apax Partners, the private equity group, and Guardian Media Group, the publisher of The Guardian.

Today the company announced that the flotation, or initial public offering, will be expected to take place next month as shares are admitted to the London Stock Exchange.

Duncan Painter, the chief executive of Ascential, said:"As a team we have created an industry leading company for informing and connecting business professionals across our exhibitions, festivals and information services products.

"These essential products enable our customers to win business and operate more efficiently. By continuously focusing on supporting our customers’ growth and success, we have reinforced the market leadership positions held by the majority of our products."

Ahead of the IPO, Ascential has appointed Scott Forbes to act as an independent chairman of the board of directors.

Forbes said: "The business has gone from strength-to-strength in recent years, transformed by an experienced management team with a proven track record of delivering consistent growth, high margins and business improvement."

Topics

Become a member of Campaign from just £45 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Why creative people have lost their way

What better way to kick off the inaugural issue of Campaign's monthly print offering than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).