Menu
11/04/2002
HMV to float on London Stock Exchange
EMI has revealed it is to float leading music retailer HMV on the London Stock Exchange by June.
The company made the decision following months of speculation after it launched a radical reorganisation in the face of poor financial results.
The sale aims to boost finances at EMI, which axed 1,800 jobs last month as part of a plan to cut annual costs by close to £100 million.
EMI music sales have slumped in recent times including a £2 million loss for the March to September period last year, down from a £59 million profit 12 months earlier. This came amid mounting investor concern over the company's ability to service its debts.
Shares will be sold to institutional investors in the UK and internationally, as well as private UK investors and company staff. The flotation is expected to raise up to £600 million. (MB)
The company made the decision following months of speculation after it launched a radical reorganisation in the face of poor financial results.
The sale aims to boost finances at EMI, which axed 1,800 jobs last month as part of a plan to cut annual costs by close to £100 million.
EMI music sales have slumped in recent times including a £2 million loss for the March to September period last year, down from a £59 million profit 12 months earlier. This came amid mounting investor concern over the company's ability to service its debts.
Shares will be sold to institutional investors in the UK and internationally, as well as private UK investors and company staff. The flotation is expected to raise up to £600 million. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
12 May 2011
Minister Congratulates Mivan On Contract Success
Former Enterprise Minister Arlene Foster has congratulated Mivan on securing over £30 million worth of contracts in new markets over the past six months. The Antrim-based firm operates within the construction and marine refurbishment sectors and employs over 300 people in NI and Britain.
Minister Congratulates Mivan On Contract Success
Former Enterprise Minister Arlene Foster has congratulated Mivan on securing over £30 million worth of contracts in new markets over the past six months. The Antrim-based firm operates within the construction and marine refurbishment sectors and employs over 300 people in NI and Britain.
31 March 2004
1,500 jobs and fifth of artist roster to go at EMI
The record label EMI has confirmed that it is to cut 1,500 jobs from its global workforce and reduce the number of artists on its books by a fifth, as part of restructuring plans designed to save around £50 million from its annual bill.
1,500 jobs and fifth of artist roster to go at EMI
The record label EMI has confirmed that it is to cut 1,500 jobs from its global workforce and reduce the number of artists on its books by a fifth, as part of restructuring plans designed to save around £50 million from its annual bill.
16 June 2004
Employment figures shows further jobs rise
The number of people in work in the UK is up a quarter of million in the last 12 months, according to official government figures out today. The figures show that UK unemployment dropped by 9,000 in the three months to April to 1.43 million. The number of people in work is up a quarter of million in the last 12 months. There are now 28.
Employment figures shows further jobs rise
The number of people in work in the UK is up a quarter of million in the last 12 months, according to official government figures out today. The figures show that UK unemployment dropped by 9,000 in the three months to April to 1.43 million. The number of people in work is up a quarter of million in the last 12 months. There are now 28.
19 November 2001
EMI report expected profit loss
EMI Group has seen its profits fall thanks to a worldwide fall in CD sales. The music company – whose roster of artists includes Kylie Minogue and Robbie Williams – revealed a loss of £2 million for the six months prior to 30 September, in comparison to a profit of over £59 million for the same period the year before.
EMI report expected profit loss
EMI Group has seen its profits fall thanks to a worldwide fall in CD sales. The music company – whose roster of artists includes Kylie Minogue and Robbie Williams – revealed a loss of £2 million for the six months prior to 30 September, in comparison to a profit of over £59 million for the same period the year before.
10 May 2017
InterTradeIreland Announces Seedcorn Investor Readiness Competition
InterTradeIreland has issued a call for applications from start-up and early stage companies to enter the Seedcorn Investor Readiness Competition before the deadline of 26 May 2017.
InterTradeIreland Announces Seedcorn Investor Readiness Competition
InterTradeIreland has issued a call for applications from start-up and early stage companies to enter the Seedcorn Investor Readiness Competition before the deadline of 26 May 2017.
-
Northern Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
