By Noel Young

The parent company of the Cannes Lions International Festival of Creativity has confirmed its intention to do an initial public offering on the London Stock Exchange.

Ascential, owned by private equity group Apax and the U.K.’s Guardian Media Group, is an events and business information company. Its most important business is the Cannes Lions festival.

The Cannes Lions festival, revealed the American magazine AdAge, has been reassuring the ad world that the proposed move from a private company to a listed one “won’t change the festival’s strategy or goals, or the way it works with the industry”.

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Source: The Drum