S4 Capital PLC (LSE:SFOR)’s founder Martin Sorrell is contemplating listing the business in New York following a poor share price performance on the London Stock Exchange, he wrote in the Times.
Sorrell, who is also the advertising agency’s executive chairman, said it was likely listing on the New York Stock Exchange would probably return a better valuation to the company.
“When we started S4 Capital in 2016, I did look at the US market and SPACS, but the entry costs then were too expensive — although it’s gone the other way now, given the oversupply.”
Acquisition-driven S4 has seen its share price fall by 47% since September 2021 with a market cap now of around £2.7bn.