Pinewood Group, owner of the British studio where James Bond is filmed, said the firm could be sold as it looks to boost shareholder value and help the company grow.
Pinewood, which has a market capitalisation of more than £250 million, said yesterday it had appointed Rothschild to carry out a review.
“We believe there is a requirement for a funding strategy to be in place to fully realise the company’s future potential,” Pinewood said in a statement, adding that a sale of the company was one option on the table.
Located 20 miles west of London, Pinewood has been making films since the 1930s, with Bond’s 007 stage and its surrounding studios accommodating the sets for Pirates of the Caribbean, Harry Potter, Star Wars and many others.
Expansion over the last decade means Pinewood now also has studios in the United States, Malaysia, Canada and the Dominican Republic.
Raising its guidance for its financial performance in the year ended March 31 after strong growth across its film, television, international businesses, Pinewood said with the appropriate capital structure it had the potential to grow strongly in future.
There is a requirement for a funding strategy to be in place
It said its current tightly held ownership base was stifling liquidity in its shares, hindering a plan to move to the main market of the London Stock Exchange.
As a result of a failed takeover attempt in 2011, Pinewood’s biggest shareholder Peel Group owns about 40 per cent and Warren James Holdings has a 26 per cent stake, Reuters data showed.
Shares in the junior market listed-company were up 14 per cent to 527 pence at 0837 GMT on the news. Since early 2014, the stock has traded at between 400 and 500 pence.
Analysts at N+1 Singer said that they believed any takeover attempt could value Pinewood at between 550 pence and 600 pence.
“Given the high structural growth, freehold backing and trophy asset characteristics of the group, we envisage strong third-party interest to either take an equity stake or fully acquire the business,” they said.