July 19, 2019 / 12:40 PM / 6 months ago

Visual effects firm DNEG prepares for multi-million pound London IPO: Sky News

(Reuters) - British visual effects company DNEG, owned by India's Prime Focus Ltd (PRFO.NS), has appointed bankers to prepare for a London listing that would value the company at "hundreds of millions of pounds", according to a Sky News report here on Friday.

The report said DNEG, which worked on films, including ‘Interstellar’, ‘Harry Potter’ and more recently ‘Avengers: Endgame’, could make its London market debut as early as September.

The company declined to comment on the report.

DNEG, formerly known as Double Negative that was founded in 1998 in London, has studios spread in nine cities spanning over three continents and was bought by Prime Focus in 2014.

The company won an Oscar for best visual effects for ‘Interstellar’ in 2015.

Prime Focus, the holding company listed in India, has a market capitalization of 13.45 billion Indian rupees ($195.5 million).

Reporting by Yadarisa Shabong in Bengaluru; Editing by James Emmanuel

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