Dianomi announces London market debut

Digital advertising specialist Dianomi is to debut on Aim, the London Stock Exchange’s junior market.

The firm, which was founded in 2002, provides digital advertising services to clients in the financial services and business sectors. Clients include asset management companies and banks, while Reuters, Bloomberg and the Wall Street Journal are among its publishing partners.

Dianomi is understood to be targeting a valuation of between £67m and £76m, The Times reported. In 2020, revenues came in at £28.43m, a 58.8% improvement on 2019, while earnings before interest and tax rose to £2.02m from £0.25m a year earlier. The bulk of Dianomi’s revenues are generated in the Americas.

Part of the float’s proceeds will be used expand sales and marketing capabilities in both North America and Europe, the Middle East and Africa. Dianomi is aiming to raise around £25m.

Rupert Hodson, chief executive, said: “We believed when we founded Dianomi that digital advertising spend would surpass print. This has proved to be true and in the last four years, digital advertising has truly taken off, particularly in our core financial market.

“With consumers now having transferred in large numbers to reading news online, via phone, tablet or laptop, this has created significant sustainable organic growth for Dianomi, as well as opportunities to expand our presence in the mobile and video segments alongside entering new sectors where our premium positioning can naturally transfer.”

Admission is expected to take place later this month. Panmure Gordon is acting as nominated advisor, sole broker and sole bookrunner.