Sir Martin Sorrell seals stock market return as S4 Capital shares enter market tomorrow
Sir Martin Sorrell will seal his return to the stock market tomorrow when shares in his new advertising venture start trading under the name S4 Capital.
A meeting of shell company Derriston Capital earlier today saw shareholders vote through all resolutions, rubber stamping the reverse takeover of S4 and its acquisition of Dutch agency MediaMonks.
Sorrell purchased Derriston in May as a vehicle to launch his new advertising venture. Shares in Derriston were suspended after the deal, but soared earlier this month when they started trading again ahead of the deal to merge with S4.
Read more: Sorrell lays out battle plan for new ad venture ahead of market comeback
The ad guru's new firm will be listed on the main market of the London Stock Exchange under the ticker "SFOR".
In July, Sorrell pipped his old employer WPP to buy MediaMonks for £265m, marking S4's first ever acquisition.
Previously, WPP warned Sorrell he was likely to breach a confidentiality agreement he signed after he resigned from the advertising giant in April by striking the deal.
In a statement to investors a few weeks ago, Sorrell said S4 was looking to continue expanding into "high growth territories" such as Germany, India and Japan, while also explore new operations in line with its strategic objectives "in data analytics and digital media planning and buying".
WPP agencies including Kantar and GroupM already operate in data analytics and media planning, making Sorrell's statement a potential sign S4 was looking to tread of WPP's toes.
Read more: Martin Sorrell wages war on the company he founded with his new venture S4