STOCK WATCH
TIME Out, the iconic listings and city guides publisher, chose a bleak day to make its debut on the Alternative Investment Market.
The shares fell to 139.5p after the company, in which entrepreneur Peter Dubens is a major shareholder, raised £90m last week by selling 60m shares to institutional investors at 150p a share.
The £90m will be used to bolster the loss-making company’s growth plans in ‘digital advertising, e-commerce and Time Out Markets’, and to pay off its debt.