365 valued at £270m

– The internet sports and music publisher, 365 Corporation, yesterday published its pathfinder prospectus, valuing the group at £273 million.

– The internet sports and music publisher, 365 Corporation, yesterday published its pathfinder prospectus, valuing the group at £273 million.

Unlike other recent listing, 365 shares will be listed on the London Stock Exchange only. Both QXL and Freeserve opted for a listing on NASDAQ as well.

The price range of 135p-150p will value the group at between £246m and £273m. The offering will consist of 49.5 million shares, of which 38.6 million are new. The flotation will raise £50 million, which will be used to fund investment.

The flotation comes at a buoyant time for UK internet stocks. Shares in QXL.com, the online auction house, have rocketed more than 40 per cent hitting 483p in early trading to day while Freeserve has continued to recover rising to 183p.

365 produces the 365 stable of internet titles including Football365, Rugby365, Music365 and CricInfo365. Most recently it launched online dating site personals365.

365 currently operates in the UK, France, Chile, Ireland and South Africa and has plans to expand into Germany, India, Australia and New Zealand.



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