Audioboom's largest shareholder, Candy Ventures, which was founded by Nick Candy, the property and technology investor, is another possible contender to take the company private.
"The board is increasingly confident in management's ability to forecast performance and growth prospects, as demonstrated by the recently announced 2019 year-end trading update, in which market expectations were exceeded for the first time in the company's history." Although it remains loss-making, Audioboom's brightening financial outlook led broker Allenby Capital to upgrade its forecasts for sales and earnings.
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