Television

Eros International listed on London's Alternate Investment Market

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MUMBAI: Eros International plc, the international media and entertainment group that owns and distributes Bollywood content globally in a variety of formats, began trading on the AIM market of the London Stock Exchange, under the ticker 'EROS'. The company was listed on 4 July.

The flotation follows a placing of the company's shares which raised over £22.5 million ($41 million). The company will be capitalised at approximately £176.0 million ($321 million), at the placing price of at £1.76 per ordinary share, states an official release.

The company also said it would use the funds raised to expand its business and exploit content over new media such as online cable, wireless and mobile.

Eros International chairman and CEO Kishore Lulla says, "This is an exciting day for everyone at Eros and a new chapter in the growth of our business. We are proud to bring Eros to the market as a publicly traded company."

Eros International also promotes the B4U television channel network. Founded in India in 1977, the company has a film library containing more than 1,300 titles and more than 110 employees in India, Britain, the United States, United Arab Emirates, Australia and Fiji, as per the release.

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