A digital sports media group majority owned by a Russian-born oligarch is to seek a London listing that will value it at £500 million.
Perform Group, which is 58 per cent owned by Len Blavatnik’s Access Industries, wants to raise about £140 million. It is seeking to raise £70 million for expansion with a primary listing. A secondary listing component of roughly the same amount will achieve the LSE’s minimum free float of 25 per cent.
Perform generates revenue mainly from distributing sports content, such as Italian club football and Thai basketball, to bookmakers and online media.
It also sells advertising on the websites it runs. Peform’s existing online products include Tennistv.com and Chelsea TV Online.
(Helen Power)