Adtech firm Crossrider preparing to raise $75m in London listing

Oliver Smith
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Investor Teddy Sagi is on track for his third float
CROSSRIDER, the advertising business owned by Israeli billionaire Teddy Sagi, is reportedly preparing for a London float that could value it at as much as $250m (£150m).

The listing would be Sagi’s third in the last decade, having floated gambling software firm Playtech in 2006 and online payment processor SafeCharge earlier this year.

Crossrider, whose clients include ad giants WPP and Omnicom, is looking to raise around $75m from the listing, which is being advised by Shore Capital, according to a report from The Sunday Times.

Sagi owns an 82 per cent stake in Crossrider while founder Koby Menachemi and other senior managers of the company own the remaining 18 per cent.