Music company ATC Group - behind livestream firm Driift and rep to stars - hits right notes on Aquis debut

Music company ATC Group, which represents stars including Nick Cave and Smiths guitarist Johnny Marr, hit the right notes on its debut on the Aquis Stock Exchange this morning.

The London-headquartered firm listed under the ticker ATC at 153p per share. Its stock was up at 155.5p by mid-morning. 

The company raised £4.15 million in the listing, implying a market cap of £14.7 million. The cash will be used to invest in growth.

A recent arm of the group, launched in lockdown in 2020, is livestream gig production firm Driift - behind the Glastonbury streaming event in May foiled by a third party IT glitch. (Some streaming link passcodes didn't work).

Driift, which both produces and promotes livestream shows, has raised cash to support out of work musicians, selling over 500,000 tickets to virtual gigs with stars including Kylie Minogue and Niall Horan.

On going public chief executive Adam Driscoll said the group's "diverse, integrated model" positions it well for future success in the industry - which is in the midst of a streaming boom.