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Parallel Media's share price goes vertical on return from suspension

Parallel is changing its name to Live Company Group. Also featured in the market movers: IWG
Legoland characters
The company aims to put on 30 Lego fan events in 2018

Trading in the shares of Parallel Media Group plc (LON:PAA) has resumed after the company completed the acquisitions of Brick Live and Parallel Live Media.

The shares, suspended at 32p, broke through the 40p barrier on their return, rising as high as 51.45p at one point before ebbing to 40p.

The company will change its name tomorrow to Live Company Group PLC to reflect a change in direction to become an organiser of fan-based events based around a Lego theme.

READ Parallel Media building on the popularity of a children's favourite

Press reports smoked out the management of IWG PLC (LON:IWG) on Wednesday, as it confirmed it had received an indicative proposal from funds managed by affiliates of Brookfield Asset Management and Onex.

The shares rose 28% to 257.2p on the news.

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