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SFX confirms IPO plans, pitches $1.1 billion valuation
By Chris Cooke | Published on Monday 30 September 2013
Dance music-focused live firm SFX Entertainment filed more details about its previously reported initial public stock offering last week, valuing the business at $1.1 billion.
SFX, the newish business of entertainment industry veteran Robert FX Sillerman, first indicated it would float back in June. The company has been on an acquisition spree, mainly buying up EDM live enterprises, since 2011. Last week’s submission confirmed plans to raise up to $200 million by selling off a slice of the company via the NASDAQ stock exchange.
Under that plan the company would be valued at $1.1 billion. By comparison, Billboard notes that Live Nation, the live music major Sillerman helped create, is currently valued at $3.5 billion. Given the respective sizes of the two companies, investors would presumably have to assume that Sillerman’s latest enterprise has much potential to expand in the coming years, cashing in on the recent commercialisation of dance music in North America.
