The shares have risen steadily in recent months, in line with a wider stock market revival and amid signs that the humbled company has stabilised its business and is restoring investor confidence.

Earlier this year, Emap appointed a chief executive to replace Robin Miller, who had returned to the top job on an interim basis after a disastrous foray into the US market forced the departure of his predecessor.

Analysts said at the time that the stepping down of Mr Miller, an old hand at Emap, signalled the company's view that its business was on the road to recovery.

Bubble

The last time Emap shares were worth more than �9 was mid-way through their steep fall during the bursting of the tech, media and telecoms bubble.

From a peak of about �17 in early 2000, the shares fell sharply, eventually reaching a near-six-year low of 487p in the aftermath of the September 11 terrorist attacks in 2001.

Tuesday's close represents a 85% rise from that low point.

Emap, a member of the FTSE 100 index of leading UK companies, owns a string of consumer magazines and commercial radio networks such as Kiss and Magic.

It also has a large stable of business and trade titles and a substantial conference and exhibitions business.