The longstanding NEC executives have been upped to chairman and director to the arenas executive team
Sign up for IQ Index
The latest industry news to your inbox.
The supplier says it will raise around £60m, to be put towards raising its "international profile" and incentives for senior execs, from floating on LSE's AIM market
By IQ on 11 Jul 2017
Event infrastructure supplier Arena Group has announced plans for a stock market launch.
The multinational company, which supplies temporary structures, seating and project management services to large-scale live events, will list its shares on the London Stock Exchange (LSE) and hopes to raise approximately £60 million to grow its business.
Arena Group’s live-entertainment clients include Lollapalooza in Chicago, the Jockey Club (whose Jockey Club Live divisions promotes shows at racecourses around the UK) and BFI, for which the company last year designed a pop-up cinema venue. It in April acquired Wernick Group’s seating division, rebranding it Arena Seating.
“I am delighted to announce that our plans to apply for admission to AIM [LSE’s Alternative Investment Market] are moving ahead, as it marks a key milestone in the development of the group. We believe the listing will not only raise our international profile but will also enable us to provide additional incentives, by way of a share option scheme, for our senior executive team around our global operations.
“We look forward with confidence to this next stage in Arena Group’s development”
“The new funding leaves us with a significantly stronger balance sheet and provides us with the necessary funding, as well as access to further capital, to will help us to continue to grow the business both organically and by way of potential acquisitions.
“We are very fortunate to have a loyal and dedicated workforce of 750 employees across our 14 international bases, and the successful floatation of the group is a testament to their hard work and support going back many years.
“We look forward with confidence to this next stage in Arena Group’s development.”
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.