Visual effects firm DNEG prepares for multi-million pound London IPO - Sky News (updated)

Prime Focus

19/07/2019 13:37

(Adds company's response, background)
    July 19 (Reuters) - British visual effects company DNEG,
owned by India's Prime Focus Ltd  PRFO.NS , has appointed
bankers to prepare for a London listing that would value the
company at "hundreds of millions of pounds", according to a Sky
News report https://news.sky.com/story/chernobyl-fx-star-dneg-prepares-blockbuster-london-float-11766327
 on Friday.
    The report said DNEG, which worked on films, including
'Interstellar', 'Harry Potter' and more recently 'Avengers:
Endgame', could make its London market debut as early as
September.
    The company declined to comment on the report.
    DNEG, formerly known as Double Negative that was founded in
1998 in London, has studios spread in nine cities spanning over
three continents and was bought by Prime Focus in 2014.
    The company won an Oscar for best visual effects for
'Interstellar' in 2015.  
    Prime Focus, the holding company listed in India, has a
market capitalisation of 13.45 billion Indian rupees ($195.5
million). 

($1 = 68.7970 Indian rupees)

 (Reporting by Yadarisa Shabong in Bengaluru; Editing by James
Emmanuel)
 ((Yadarisa.Shabong@thomsonreuters.com; Phone: +91 80 6749
9089;))