Magazine article Screen International

Relativity IPO in '12- 18 Months'

Magazine article Screen International

Relativity IPO in '12- 18 Months'

Article excerpt

Long-time speculation over whether Ryan Kavanaugh would take his company public came into slightly sharper focus on Thursday (19) as the CEO said he anticipated doing so within the next 12-18 months.

Speaking to Bloomberg News, Kavanaugh said the company had retained Jefferies for a capital raise ahead of the public offering and would also refinance debt.

"We're on our pre-IPO roadshow right now and we're in the process of setting up the proper capital raise to go public and our goal is to have it happen let's say within the next 12-18 months," he said.

Kavanaugh said the goal of the raise was to ensure the company was capitalised appropriately to pursue opportunities, particularly tech acquisitions. He would not be drawn on a Relativity valuation but said it would be "a chunk of capital, which is a good size."

Pointing out that Relativity was not solely a film studio, the executive said that side of the business accounted for roughly 50% of the business, the remainder coming from tech, reality TV and fashion content and the sports agency business. …

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