Tiso looks to London bourse

The owner of the Times Media Group wants to move from AIM to the LSE.

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Cape Town - Investment holding company Tiso Blackstar, which recently bought out Times Media Group, is looking to list on the London Stock Exchange, it said on Monday.

This came as it reported an operating profit of R339.15 million for the six months to end-June.

If a listing transfer is successful, then Tiso Blackstar’s shares would also be admitted to the main board of the Johannesburg Stock Exchange.

Tiso Blackstar reported operating profit of R153.12 million for the 12 months to end-December 2014. It was not immediately clear whether it had provided a comparative six month figure in its financial statements.

“Tiso Blackstar is currently investigating the possibility of transferring its current trading on AIM to a listing on the Premium Segment of the Official List of the Financial Conduct Authority under Chapter 15 of the Listing Rules (Closed-Ended Investment Funds) and to trading on the London Stock Exchange Main Market for listed securities in order to enhance the company’s visibility and share liquidity,” the company said.

AFRICAN NEWS AGENCY