Sorrell's S4 launches on stock market today
Sir Martin Sorrell is braced for the much-anticipated listing of his S4 Capital on the London Stock Exchange today, giving investors their first chance to trade shares in his latest venture.
Sorrell's S4 launches on stock market today
Shareholders at investment firm Derriston Capital have already rubber stamped a reverse takeover of S4 and its acquisition of Dutch agency MediaMonks for £265m, whipping the business out from under the noses of Sorrell’s erstwhile WPP colleagues and consultancy Accenture.
This shell company was purchased by Sorrell in May as a stepping stone towards establishment of his own advertising venture, culminating in today’s stock market return.
“[It's] an acknowledgement that the business has changed. The structure of S4 Capital will be very different in structure than anything we saw at WPP," Sorrell told The Drum at Cannes Lions earlier this year.
S4 Capital has already issued its prospectus in which it stakes a claim to expanding his footprint in data analytics and digital media planning and buying, raising WPP fears of further friction by encroaching on sectors currently occupied by its own Kantar and GroupM agencies.
WPP has already fired a shot across Sorrell’s bows, warning that he was likely to have breached a confidentiality agreement signed as part of his resignation deal.
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