Ascential PLC (LSE:ASCL) topped the FTSE 250 risers on Wednesday, soaring 22.6% higher in early trading, as the information, analytics and eCommerce optimisation group announced plans to split its businesses.
The company said it intends a US public listing for the Digital Commerce business, the sale of WGSN, while the remaining Events business will have a standalone UK listing as Ascential PLC.
In a trading statement, Ascential also said it expects full-year revenues to be at least £520mln, ahead of forecasts, and adjusted EBITDA to be at least £118mln, again ahead of the top end of the current consensus range.
The company said 2022 saw double-digit revenue growth across all four segments.
Analysts at Peel Hunt said the news “does not come as a surprise.”
“For Ascential, we have long stressed that the underlying assets are worth more than the combined group and thus management is now taking steps to maximum the value," the City broker's analysts added.