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Perform to float on stock exchange

Company looks to raise money to build business.

Digital sports rights company Perform Group is looking to float at least 25 per cent of the business on the London Stock Exchange, in an effort to raise around £70m.

The group, which holds the digital rights for more than 200 sports leagues, said the money raised would go towards building the business.

American billionaire Leonard Blavatnik currently owns 58 per cent of the company. A further 40 per cent is owned by staff and Access Industries, whose stakes will be reduced when the company floats.

Credit Suisse and Morgan Stanley will sponsor and co-ordinate the offer.