Shares in Indian movie producer and distributor Eros International advanced as the group announced plans to delist from London's Alternative Investment Market (Aim) and re-list on the New York Stock Exchange (NYSE), raising $250m (£156m) in the process.
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The funds raised will be used for acquisitions of content and to fund new co-productions, as well as to grow the group's digital distribution channels.
Management plans to de-list from Aim as soon "as practicable" and is keen to move to the NYSE as it feels it offers a more relevant peer group for comparisons, broader analyst coverage, higher liquidity and better access to additional equity.
