July 21 (Reuters) – Promoting know-how firm Teads BV, owned by French telecom firm Altice, stated on Wednesday it goals to lift as much as $808.5 million by an preliminary public providing on the Nasdaq at a valuation of about $5 billion.
The corporate’s current shareholders plan to promote 38.5 million shares within the IPO, at a worth vary of $18 to $21 every, after which Altice would maintain majority voting rights.
Based in 2011, Teads supplies automated shopping for and promoting of internet advertising house, a know-how that’s quick gaining reputation, to purchasers together with Adidas, Danone SA, Vice Media and BBC World Information.
The corporate, whose platform reaches 1.9 billion customers globally, was acquired by Altice in 2017 in an all-cash deal that valued Teads at round 285 million euros ($337.35 million).
Teads earned a revenue of $111.5 million on income of $540.3 million within the yr ended Dec. 31, 2020, its submitting confirmed. The corporate stated its income grew 6% yearly regardless of the damaging affect of COVID-19 within the first half of final yr.
Goldman Sachs, Morgan Stanley and JP Morgan are the lead underwriters for the providing. Teads stated it will be listed below the image “TEAD”.
Reporting by Sohini Podder in Bengaluru; Enhancing by Ramakrishnan M.
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