WPP in second round of financing at IGA
WPP, the highly acquisitive advertising firm led by Sir Martin Sorrell, has participated in a second round of financing to maintain its minority interest in InGameAdvertising (IGA) in China.
WPP, the highly acquisitive advertising firm led by Sir Martin Sorrell, has participated in a second round of financing to maintain its minority interest in InGameAdvertising (IGA) in China.
IGA, which was founded in 2005 and employs 30 people, has invested in the stock alongside new investor Singtel Innov8 and existing investor Revolution Capital.
In a statement the firm said: "This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Greater China - a region WPP has been committed to for over 20 years - remains one of the fastest growth markets for the group, currently WPP's fourth largest market with revenues (including associates) of well over $1bn. WPP's digital revenue alone in China is well over $200m."
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
A junior ISA could turn your child’s pocket money into thousands of pounds
Persuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
By Katie Williams Published
-
Cost of Christmas dinner jumps 6.5% as grocery price inflation rises again
The average Christmas dinner for four now costs £32.57 as grocery price inflation increases - but what does it mean for interest rates?
By Chris Newlands Published