First IPO of 2022: Media production trailer provider debuts in London
Film and TV production trailer provider ADF will debut on London’s market, in the first float of 2022 so far.
After raising more than £18m from institutional investors, ADF is set to trade at 50p per share.
The initial public offering (IPO) is expected to land ADF a valuation of £37.8m, as it looks to increase its annual turnover to £100m.
The freshly unlocked funds will be used to strengthen the company’s financial position, in “continuing to meet increasing demand”, said chairman John Richards.
ADF, whose customers include Netflix, Disney, HBO as well as Sky and BBC, will likely capitalise on the recent boom in movie studios cropping up across the country.
Troubadour Meridian Water Studios last month unveiled a second London film and TV studio based in Brent Cross Town, which will open early this year.
While London has also welcomed a new £20m studio in west London, by RD Studios, which is set to open in April.
CEO Marsden Proctor said: “The UK is enjoying a boom in investment in infrastructure and High-End TV and Film production. Driven by the world’s streaming giants and their subscribers’ insatiable appetite for box sets and films.
“According to the British Film Institute making film and High-End TV shows in 2021 will have hit £6bn, more than double the spend in 2020… we are very confident in the long-term opportunities for the company.”