Hollywood Film Contracts Kingpin Climbs in London Homecoming
(Bloomberg) -- Shares in the Hollywood film completion contracts firm that counts Quentin Tarantino’s Pulp Fiction and Reservoir Dogs among its most successful projects rose in its stock exchange debut in London on Friday.
FFI Holdings Plc, parent-company of Film Finances Inc., gained as much as 6.7 percent from its 150 pence a share initial public offering price in early trading, giving it a market capitalization of about 250 million pounds ($325 million).
Founded in the British capital in 1950 by a Lloyd’s of London insurance underwriter and a Royal Air Force commander, FFI is returning to its “U.K. roots” with its listing on the AIM market for growth companies, Chief Executive Officer Steven Ransohoff said last week. The Hollywood-based company reviews screenplays and financing plans before guaranteeing the production of movies it deems viable, taking control in the event that a project cannot be completed.
FFI will seek acquisitions in areas such as sound design and visual effects, and will look to expand operations in China. The company has also held talks with IMAX Corp. to cooperate on original content production, although no final agreement has been reached.
The firm backed Best Picture Oscar-winners 12 Years a Slave (2013) and Slumdog Millionaire (2008). Its other titles include La La Land (2016), The Hunger Games (2012), and Laurence Olivier’s Richard III (1955).