Business News Live Business

Vince Power company arrives on AIM

By | Published on Wednesday 29 June 2011

Vince Power

Vince Power’s music festivals company officially arrived on London’s Alternative Investment Market this week.

As previously reported, the Mean Fiddler founder, who returned to the UK live music industry after non-compete obligations to his former company were fulfilled, announced earlier this year that he would be floating his new music business, which, among other things, promotes the Benicassim and Hop Farm festivals.

The flotation raised £6.5 million, which Power intends to use to buy the rights to more music events. According to The Independent, shares in Music Festivals plc slipped slightly on first day of trading to 66.5p.

Power said Music Festivals plc is the first publicly quoted pure music festivals business, and that its flotation would “give everyone the chance to own a part of the thriving live music industry”.