The advertising company specialises in “native in-video advertising” (Niva) or the process of using 3D technology to retroactively superimpose branded products and ad signage in film and TV programmes.
On Friday, Mirriad confirmed it has successfully priced its IPO and applied for admission to London’s small-cap exchange.
The group raised £26m via a conditional placing, with shares at 62p each, giving it a market cap of £62m by the time it lists on Aim on 19 December 2017.
The ad group features in the portfolio of LSE-listed intellectual property firm, IP Group, which counts Woodford and Invesco Perpetual’s Mark Barnett among its majority shareholders.
Mirriad’s Niva method is IP-protected proprietary technology and, according to the firm, allows brands and advertisers to plan and run multi-title campaigns across TV, the internet and mobile phone devices.
Approximately £25.4m of the proceeds from the IPO will be kept by the group, which a source told Portfolio Adviser will be used to develop its relationship with e-commerce titan Alibaba China.
Mirriad is currently partnering with Alibaba-owned Youku, the Chinese equivalent of Youtube, on its Marketplace platform with a view to making Niva a part of its content monetisation strategy.
Chief executive Mark Popkiewicz called the IPO “an important milestone for the group”.
“Our proprietary technology, blue-chip customer relationships and operational momentum ensures we are ideally-placed to grow rapidly and drive returns for all stakeholders,” he added.
Shares in parent company IP Group were up nearly 3% following the announcement.
