AIM attracts three newcomers

Music firm hopes to set tills jingling with 'War of the Worlds' rock show

A clutch of three new AIM flotations announced yesterday included Jeff Wayne Music, which will be the only pure music industry investment on the Stock Exchange apart from the media industry, writes Peter Rodgers.

The company is the UK's biggest producer of advertising jingles, with 8,000 ads under its belt, and is raising pounds 4m in a placing that values the group at up to pounds 13m. It will use most of the money to promote expansion in the US and Europe.

About pounds 500,000 of the proceeds will also be used to fund the development of a world tour based on Jeff Wayne's financially successful but otherwise unremarkable rock musical version of HG Wells' War of the Worlds, which has sold 6 million albums since 1978.

The prospectus is likely to describe this tour, a large-scale hi-tech sound and light show, as a high-risk venture.

As well as producing advertising soundtracks for big agencies, Jeff Wayne Music runs a research service for clients looking for existing music for film and TV, and a multimedia division producing and supervising soundtracks for businesses other than advertising. Durlacher is nominated broker to the issue.

Chemical Design Holdings is raising up to pounds 1.5m in a placing on AIM, through the same two firms. It will be valued at about pounds 5m. Chemical designs and supplies software for pharmaceutical and biotechnology firms, for use in techniques that aid the production of large numbers of new compounds.

For every new drug on the market, 10,000 different compounds must be made and tested for biological activity. Clients include Hoechst Marion Rousell, Glaxo Wellcome, Rhone-Poulenc Rorer, Pfizer, and Peptide Therapeutics.

The third flotation is Cirqual, which makes aluminium and plastic extrusions and hopes to raise pounds 2m-pounds 5.8m by a placing through brokers Neilson Cobbold and advisers Price Waterhouse Corporate Finance.

The flotation is expected to value Cirqual, a group put together from existing businesses only last year by the investment group Gartland Whalley and Baker, at pounds 16m-pounds 20m.

The chairman is Tony Gartland, who oversaw the rapid growth of FKI, where he was chief executive in the 1980s.

The placing is to reduce borrowings and allow the company to make new acquisitions.

AIM celebrated its first anniversary last Wednesday.

Start your day with The Independent, sign up for daily news emails
News
ebooksAn unforgettable anthology of contemporary reportage
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Digital Optimisation Executive - Marketing

£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...

Recruitment Genius: Financial Reporting Manager

£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...

Recruitment Genius: Payments Operations Assistant

£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...

Recruitment Genius: Telephone Debt Negotiator

£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...

Day In a Page

Sepp Blatter resignation: The beginning of Fifa's long road to reform?

Does Blatter's departure mean Fifa will automatically clean up its act?

Don't bet on it, says Tom Peck
Charles Kennedy: The baby of the House who grew into a Lib Dem giant

The baby of the House who grew into a Lib Dem giant

Charles Kennedy was consistently a man of the centre-left, dedicated to social justice, but was also a champion of liberty and an opponent of the nanny-state, says Baroness Williams
Syria civil war: The harrowing testament of a five-year-old victim of this endless conflict

The harrowing testament of a five-year-old victim of Syria's endless civil war

Sahar Qanbar lost her mother and brother as civilians and government soldiers fought side by side after being surrounded by brutal Islamist fighters. Robert Fisk visited her
The future of songwriting: How streaming is changing everything we know about making music

The future of songwriting

How streaming is changing everything we know about making music
William Shemin and Henry Johnson: Jewish and black soldiers receive World War I Medal of Honor amid claims of discrimination

Recognition at long last

Jewish and black soldiers who fought in WWI finally receive medals after claims of discrimination
Beating obesity: The new pacemaker which helps over-eaters

Beating obesity

The new pacemaker which helps over-eaters
9 best women's festival waterproofs

Ready for rain: 9 best women's festival waterproofs

These are the macs to keep your denim dry and your hair frizz-free(ish)
Cycling World Hour Record: Nervous Sir Bradley Wiggins ready for pain as he prepares to go distance

Wiggins worried

Nervous Sir Bradley ready for pain as he prepares to attempt cycling's World Hour Record
Liverpool close in on Milner signing

Liverpool close in on Milner signing

Reds baulk at Christian Benteke £32.5m release clause
On your feet! Spending at least two hours a day standing reduces the risk of heart attacks, cancer and diabetes, according to new research

On your feet!

Spending half the day standing 'reduces risk of heart attacks and cancer'
With scores of surgeries closing, what hope is there for the David Cameron's promise of 5,000 more GPs and a 24/7 NHS?

The big NHS question

Why are there so few new GPs when so many want to study medicine?
Big knickers are back: Thongs ain't what they used to be

Thongs ain't what they used to be

Big knickers are back
Thurston Moore interview

Thurston Moore interview

On living in London, Sonic Youth and musical memoirs
In full bloom

In full bloom

Floral print womenswear
From leading man to Elephant Man, Bradley Cooper is terrific

From leading man to Elephant Man

Bradley Cooper is terrific