LONDON — Focusrite, the global music and audio products group supplying hardware and software products used in studios, sound reinforcement and music production / performance, went public with an IPO on the London Stock Exchange’s AIM market on Dec. 11. Pictured here, from left, are company executive chairman Phil Dudderidge and Focusrite USA president Phil Wagner.
As part of an overall growth strategy, 17,806,984 shares were made available with a value of 22.4-million pounds (approximately $35.2 million USD). These opened at 1.26 pounds/share (approx. $1.98/share), representing some 30% of 58 million total shares. A day after the initial opening, the stock closed at 1.40 pounds/share.
“This is a momentous day for Focusrite and I’m delighted,” says Focusrite executive chairman Phil Dudderidge, commenting on the IPO. “We look forward to rewarding both our new and existing shareholders with continued growth in revenue and profits, and increasing our market share.”
Besides Focusrite’s award-winning signal processing, preamp and digital recording interface offerings, the company also manufactures the flagship RedNet modular system of Ethernet/Dante-enabled digital audio networking products and owns the Novation brand of keyboard, synthesizer and electronic music technologies.
Founded in 1985 and headquartered in High Wycombe, U.K., Focusrite has a marketing subsidiary in Los Angeles and has more than 140 employees worldwide. The Focusrite Group has a global customer base with a distribution network covering approximately 160 territories.
For more info about Focusrite, go to www.focusrite.com.
