(Alliance News) - S4 Capital PLC is considering listing in the US, founder Martin Sorrell said, as the ad agency would get a "better valuation" there, according to the Times.
Writing in the newspaper, Sorrell, who is the firm's executive chair, said: "When we started S4 Capital in 2016, I did look at the US market and [special purpose acquisition companies], but the entry costs then were too expensive - although it's gone the other way now, given the oversupply."
He added that a New York listing is "something we're looking at again; if we were also listed in the US we would probably get a better valuation there," as a technology-led ad agency.
https://www.thetimes.co.uk/article/sorrell-considers-new-york-listing-for-better-valuation-of-s4-capital-zkb72z3vs
S4 Capital shares were down 1.5% at 471.13 pence in London on Monday. The price is essentially flat over the past 12 months, though it is down 37% over the past six months.
By Tom Waite; thomaslwaite@alliancenews.com
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S4 Cap. (SFOR)