Ron Creevey plans $80 million ASX listing
Australian tech entrepreneur Ron Creevey is planning an $80 million listing on the Australian Stock Exchange in 2017.
According to Noise11, which was acquired by Creevey’s Moment Media last month, Creevey is likely to float his group of six companies in the first quarter of 2017.
“It will be highly likely mid-March,” he said.
Creevey told TMN the group of companies he plans to list form part of a new company, which owns the assets of all his companies.
One of Creevey’s companies, Moment Media, currently consists of multiple media assets, including Heath Ledger’s production company The Masses, which Creevey is a major shareholder (47.5%), multi-media venues The X Studio, live streaming platform The X Cast, non-exclusive record label Helipad Records, and soon-to-be-launched music platform Helipad.
Creevey plans to announce the full details of the new company next week.
“All content, all technology, all physical studios, will come under [the new company],” he told TMN. “Film, documentaries… the lot.”
Creevey told TMN The X Studio, which is set to host Coldplay this month, is on track to gross $4 million in revenue this calendar year.
“We looked at listing overseas but post-Brexit there is a lot of confusion in the European market over what is going to happen over the next 12 months. We look at Australia now as a Tier One market to list on,” Creevey told Noise11.
“Everyone is walking away from doing new media listings here. To me, it just makes sense from being part of the group that did the very first one ever (Creevey floated his social media and e-commerce platform YuuZoo in Singapore in 2007). You can make money in Australia, you can run a successful business. Historically, Australia has generated some of the greatest media people of all time. It is encoded in our DNA”.
Creevey has ambitious plans for his media platform Helipad, which you can read about here. Helipad recently signed a deal with his former company YuuZoo, which has agreed to make an equity investment between $50 million and $150 million in US-based movie studio Relativity Holdings LLC.
According to Deal Street Asia, Relativity holds 90% of distribution-financing entity Skyland Entertainment in China, for the distribution of Relativity films and the production of films in China.
“On the back of where YuuZoo is heading with Relativity Media it gives me one of the biggest distribution networks on the planet,” he told Noise11. “From that there, already I can turn on the countries that I need to promote Helipad in the regions we feel makes sense. […] We can integrate Helipad into Facebook, we can integrate it into Apple. A lot of these social networks today allow others to integrate in, which allows their users to stay longer on site.”