Text 100 stock on upswing already

LONDON: The overwhelming success of Text 100’s debut on the London stock market last week should give the PR industry a shot of confidence as it enters the new millennium.

LONDON: The overwhelming success of Text 100’s debut on the London stock market last week should give the PR industry a shot of confidence as it enters the new millennium.

LONDON: The overwhelming success of Text 100’s debut on the London

stock market last week should give the PR industry a shot of confidence

as it enters the new millennium.



Text saw its share price rocket from about dollars 5 at the end of its

first day to over dollars 8 two days later. The financial community’s

embrace of the agency is being hailed by analysts as a defining moment

in the growth of the PR industry.



’City sentiment about PR agencies has definitely changed,’ said Alan

MacKenzie, CEO of corporate financier ARM, which brought the company to

market.



Previous public listings by PR agencies have not been as successful.



Shandwick, for example, was sold to Interpublic after facing public

pressure to change its management and seeing its share price fall to

dollars 7 on the London stock exchange.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.