Opera has filed for an initial public offering of American Depositary Shares. According to the SEC filing, the web browser company plans to list on the Nasdaq market.
The number of ADSs to be offered and the price range for the proposed offering have not yet been determined. The indicative value in the filing for the registration fee was set at USD 115 million. Concurrent with the public offering, the investment funds Tospring Technology (Bitmain), IDG Capital Fund and IDG Capital Investors have agreed to purchase respectively USD 50 million, USD 9.5 million and USD 471,000 of Opera shares, at a price per share equal to the initial public offering price.
Opera said the listing is designed to create a public market for its shares and stock options for employees. It will use the proceeds to expand R&D, distribution and marketing, and possible acquisitions.
The Opera web browser business was spun off and acquired by Chinese investors in 2016. The former Norwegian listing of the company was taken over by the holding company Otello.
