'Twilight' distrib will move its base to Canada
Entertainment One, which operates under the E1 Entertainment banner, has secured a listing on the London Stock Exchange, opening Thursday with shares at 82p ($1.26) and trending up.
The Toronto-based media company, which has offices in London, was previously listed on the London Alternative Investments Market. The move was intended to broaden its shareholder base and attract more institutional investors.
Coinciding with the move, the group is relocating its place of incorporation from the Cayman Islands, where it registered legal status, to Canada, where it plans to unveil a new corporate identity.
CEO Darren Throop said the move to the main London market and relocation “creates an opportunity to ensure that there is a clear link between our global entertainment and distribution operations and our publicly traded entity.”
U.K.-based investment house Marwyn owns a 41% stake in the group.
The company’s preliminary financial results for the year ending March 31 saw revenue growth of 30% to £444.2 million ($683 million).
Its distribution arm E1 Entertainment recently released “The Twilight Saga: Eclipse” in Canada, where it has so far generated more than $19 million, and in the U.K., where it has taken $26.8 million in box office receipts.
The distrib also has helmer Giuseppe Tornatore’s “Baaria” and Kristen Stewart starrer “The Runaways” on its slate.
E1 TV division’s summer ratings hit “Rookie Blue” was recently reupped just three weeks after the cop series preemed on ABC in the U.S. and Global in Canada.
(Jennie Punter contributed to this report.)