The 30-year-old founder of LadBible has a net worth of more than £200m after his business listed on the London Stock Exchange today.
Alexander (Solly) Solomou made £50m in cash from share sales today, and he retains a 42% stake in the listed LBG Media.
LBG, which operates several youth-orientated media brands including SportBible, UNILAD and GamingBible, completed its initial public offering (IPO) on the LSE’s Alternative Investment Market (Aim) this morning.
Its shares listed at £1.75, valuing the company at £360m. By the end of the day, LBG’s share price had risen to £2, and the company’s market capitalisation was around £411m.
Source: Press Gazette
Deal value: £411m
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