Stockmarket float looms for Electric Jukebox

Music entertainment firm Electric Jukebox has announced its intention for a stock market flotation next year as it looks to take on the likes of Apple, Amazon and Spotify.

It is understood the London initial public offering (IPO), slated for the first half of 2018, will see the firm raise tens of millions and value it at more than £100 million.

Founded by British entrepreneur Rob Lewis in 2014, the money raised will be used to roll out Electric Jukebox’s new Roxi product, a set-top box that allows users to stream music, play music trivia games and do karaoke.

It is thought that Finncap, which has been appointed the company’s corporate finance adviser, has been sounded out already by institutional investors interested in becoming shareholders through the flotation.

It comes as the group closes a $14m (£10.9m) private funding round.

The largest shareholders currently in Electric Jukebox are Lewis and YOLO Leisure & Technology, the investment business.