Company renamed Vertice
MADRID — Cecsa, the film and TV subsid holding of Spanish high-tech, telco and media group Avanzit, will seek to hit the stock market as early as this summer, exec prexy Jose Maria Irisarri told Daily Variety.
In the run up to its market bow, Cecsa’s general shareholders meeting agreed Tuesday to change the holding’s moniker to Vertice 360º.
Vertice will now solicit approval from Spain’s CNMV stock market regulator to launch on the market via a listing.
“We’d like to market launch as soon as possible. The only holdback could be the CNMV listings process,” Irisarri said.
The listing will be put through via a dividend share out among companies that hold shares in Vertice, plus a 40% free float.
Vertice houses top-notch specialty distribution house Notro Films and Manga Films, one of Spain’s biggest mainstream pic buyers, niche distribbery Versus and new genre producer-distributor Amazing Pics.
Further companies in the holding include Telespan, one of Spain’s most successful comedy pic producers, and leading post-prod house Telson. Notro, Manga and Telespan were acquired by Cecsa via share swaps between the companies and Cecsa.
Led by Irisarri — a seasoned TV exec who served as a partner for many years at top Spanish TV skein producer Globomedia — Vertice is an ambitious attempt to exploit synergies and economic muscle in Spain’s film and TV market.
“We want to change business models, and have a strong market presence,” said Irisarri.