The ForeMedia Group will commence trading at the London Stock Exchange June 4 following approval by its management board last week. The company plans to issue two million ordinary shares at $2.50 equivalent to two British Pounds per unit.
The board also appointed Mr. Cliff Southcombe as new chairman.
Mr. Southcombe, the co-founder of FairSharesInc and the managing director of Social Enterprise International is an expert of social enterprise and has a great drive for African development and African institutions.
The CEO, ForeMedia Group, Hareter Babatunde Oralusi, in a statement said the chairman’s choice was based on the zeal of the board of directors to take the company to Global standard.
ForeMedia Group is an international media and digital communication services company driven with the latest technology. The company operates on different media platforms which include TV, magazine and Blogs to tell true stories and project the values of Africa to the world.
ForeMedia Group has introduced many brands including ForeTV, ForeTV News, ForeTV Sports, ForeTV Plus, ForeBlog, ForeMag, ForeMedia Events, ForeMedia Studios and a Social TV App, ForeLive.
It is a social enterprise company guided with FairShares principles.The company is currently setting up subsidiary units in Nigeria, Ghana, Kenya, Ethiopia, South Africa and United States, Oralusi said.