Entertainment One seeks FTSE listing
Plans to switch incorporation to CanadaLONDON -- U.K. and Canadian-owned distributor Entertainment One said Wednesday it is marching towards a public listing on the full stock exchange here.
The company, currently listed here on the Alternative Investment Market with operations in Canada, the U.S., U.K., the Netherlands and Belgium and incorporated in the Cayman Islands, told AIM it also plans to switch incorporation to Canada.
Should it get the go-ahead, listing on the main stock exchange is a statement of intent for the distributor of the "Twilight" movies and other hits such as "Bandslam" and "An Education" in certain territories.
It would signal a step into the big time for the company, raising the board's ability to boost share price and base.
"The Board considers the current size, increasing maturity and ambition of the Company to be more appropriately served by a listing on London's Main Market," Entertainment One said in statement to AIM here.
"Subject to UKLA and other approvals as required, it is the Company's intention to move on to the Main Market following the announcement of its full year results and contemporaneously with the redomiciliation of the Company [to Canada]."
The intentions have been made public in the run up to the Company reporting its full year results in May this year.
The Company expects results for the financial year to be "at the top end of the recently upgraded market expectations" largely on the back of the barnstorming performance of its recent DVD release of "The Twilight Saga: New Moon" which hit the top spot here and in Canada, selling more than 1.5 million units.