MADRID — Vertice 360º, one of Spain’s most ambitious film and TV holdings, will list on Madrid’s stock market from Wednesday, Madrid’s CNMV stock market regulator has confirmed.
The listing — a strategy that allows companies to offer 100% of stock without a prior initial public offering — should see investors’ buying Vertice at around Euros 3 – Euros 3.50 ($4.3-$5), said Glen Spencer Chapman, at Ibersecurities.
A stock market presence is rare for a Spanish content company, but Vertice is no ordinary company.
Controlled by Avanzit, a high-tech conglom, Vertice is made up of Notro Films and Manga Films, two of Spain’s leading film distribution-production houses, plus niche distributor Versus and genre producer-distributor Amazing.
Other assets include Telespan 2000, the producers of hit pic comedies such as “The Other Side of the Bed,” one of the Spain’s biggest postprod houses, Telson, and Videoreport, a Spanish production services company.
Vertice estimates sales at $178.4 million for 2007. That, for Spain, makes it a large, though not huge, film/TV production-distribution company.
The stock market listing aims at further boosting its financial muscle in the run-up to more acquisitions, Vertice exec prexy Jose Maria Irisarri has said. He has already identified potential takeover targets in Spain.