A first-day premium approaching 50 per cent is expected to be commanded by shares in Meanfiddler.com when the company spun out of Waterford born Mr Vincent Power's Mean Fiddler Group makes its debut on London's Alternative Investment Market next Wednesday.
Final terms have now been struck on raising £2.8 million sterling through the sale of 40 million shares at seven pence each, valuing the company at £15 million.Meanfiddler.com shares may open at 10p each, lifting the company's valuation to £21 million.
Almost £1.5 million of the £2.8 million raised by share sale has been used to fund the purchase of Intellectual Property Rights from the Mean Fiddler Group.
Meanfiddler.com expects to generate revenue from its websites through sales of advertising, music and music-related products and later from sales of advertising on a new digital television channel.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)