Bankers are preparing a £1bn stock market flotation for Top Right Group, the publishing and events company jointly owned by Apax Partners and Guardian Media Group. It is understood that Bank of America Merrill Lynch (BAML), which earlier this year was joint bookrunner for Apax on the flotation of Auto Trader, has been lined up to bring Top Right to market this autumn. Top Right, formerly known as Emap, runs the Cannes Lions advertising festival and publishes the trade journal Retail Week among a portfolio of businesses that delivered an underlying profit of £85m last year.
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