The Israeli company will raise $75 million, down from the $100 million it attempted to raise in March.
The IPO of digital ad company Matomy Media Group Inc. on the London Stock Exchange is set to go ahead. Matomy, controlled by Ilan Shiloach, has told investors in London in the past few days that it will raise $75 million at a company value of $350 million after money ($275 million before money). The company also announced that it is book covered to raise the full amount of $75 million.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
READ MORE :
- Matomy Withdraws From £60 Million London IPO At This Time
- Israeli Digital Ad Company Matomy To Raise $100 Million In London IPO In April
In recent weeks, Matomy’s management has met with a small number of investors to sound out their opinions on going ahead with the offering, while also updating them regarding the company’s first quarter results and the impact of its acquisition of German company Team Internet. Matomy recently acquired a further 50% of Team Internet thus raising its stake to 70%.
Matomy had been set for a London IPO in March to raise $100 million at a company value of $400 million but was unable to pass the 25% threshold of European investors required by the London Stock Exchange.
Matomy reported first quarter revenue of $68 million (preform including Tem Internet) up from $54 million in the corresponding quarter of 2013. EBITDA was $6.9 million up from $4.2 million in the corresponding quarter.
Published by Globes [online], Israel business news – www.globes-online.com
