A Hollywood film financier today joined the London Stock Exchange in an initial public offering (IPO) valuing the company at more than £200m.
FFI Holdings floated on the junior Alternative Investment Market (Aim) at 8am this morning, raising £59m in the process.
The Los Angeles-headquartered firm said the IPO would see FFI “return to its UK roots given our strong links with the early days of the British film industry”.
The company, which assures financiers that films will be completed on time and within budget, was founded in London in the 1950s and still has a presence in the UK despite relocating to California in the 1990s.
FFI has helped fund around 1,700 productions, from James Bond film Dr No in 1962 to La La Land in 2016, with gross budgets totalling $17bn.
FFI was advised by Liberum on the float, which saw the company enter Aim with a 150p share price and market capitalisation of £236m.
“The success of FFI’s institutional placing marks an important milestone in the history of our company,” said chief executive Steven Ransohoff.
“Listing on the London Stock Exchange’s Aim market sees FFI return to its UK roots given our strong links with the early days of the British film industry.
“That heritage is the foundation of today's global company, which over the past six decades has established itself as the world's leading provider of completion contracts for the entertainment industry.”