Cinema software group explores London listing
Manchester-based Unique X could command a valuation of £300mn in IPO next year
A cinema software company whose technology is used by Disney and Warner Bros Discovery is exploring an IPO in London, in a potential boon for the UK market.
Manchester-based Unique X is considering listing in the capital city next year at a valuation of £300mn, according to people familiar with the matter. Cinema chains including Odeon, Vue and Cineplex use the company’s software to manage film showings and schedule trailers, while studios including Warner Bros Discovery, Disney and Universal use its technology to distribute their films to cinemas around the world.
A new tech company listing would be a much-needed bright spot for the London market, which has suffered from lacklustre IPO volumes in recent years despite several reforms.
UK politicians and policymakers are urgently trying to encourage businesses to list in London and investors to support them. The government has sought to incentivise listings by making a series of regulatory changes, including providing a stamp duty holiday for new IPOs and lowering free-float requirements to allow company founders to keep more of their stakes.
Downing Street last month asked private equity bosses why they were not floating their portfolio companies in the UK, the FT reported, in a sign of the government’s concern about the situation. Just seven companies listed in the UK in the first half of this year, raising £577mn. In the first half of last year, nine companies listed in London, raising £183mn in total.
Meanwhile, a record number of British companies are being acquired by overseas buyers, underscoring strong investor demand for what they consider to be undervalued businesses.
Unique X was founded in Norway in 1997 and has grown to deliver more than 1.1bn cinema advertising spots and software to over 40,000 cinema screens across the world. European investment firm Kartesia invested $80mn in the company in 2024 at an undisclosed valuation. The company’s founder Chris Hagan retained 85 per cent ownership of the business, Unique X said at the time.
Unique X would raise £100mn through a London listing, one of the people said, at a roughly £300mn valuation, adding that “probably 60 per cent of the films you’ve seen” use its technology in some capacity. The company is also exploring other options such as a sale, while timings could change, they cautioned.
UniqueX did not respond to requests for comment. Kartesia declined to comment.
Several anticipated UK listings have been delayed despite hopes that regulatory changes and government enthusiasm would drive a revival of the IPO market. High street retailer Superdrug is weighing pushing back its planned IPO until next year, the FT reported, while bookstore owner Waterstones has not yet set a date for its expected listing.