A group planning to launch a national commercial radio station for women shoppers wants to raise £13 million ahead of a listing in London.
Isle of Man Broadcasting has won a licence from the Manx government to operate across Britain and Ireland on a long wave frequency.
It will be issuing 18.6 million shares at 70p each ahead of a flotation on the Alternative Investment Market next year, with an estimated capitalisation of between £50 million and £100 million.
It has lined up Sixties crooner Gene Pitney and Rick Wakeman, of Seventies rock band Yes, as DJs.
There are only three other commercial stations licensed to broadcast nationally in Britain - Classic FM, Virgin and TalkSport.
Monday June 21, 2004
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