CM.com, the company started as SMS provider ClubMessage, has postponed the initial public offering (IPO) it had planned for 11 October. Deferring the IPO will give more time for investors to get involved, the company said. CM.com added that it will provide a new date for the IPO within a few days. The introduction price for CM.com shares will also get announced.
The company hopes to raise EUR 100 million from the IPO. It is looking for capital to grow and to repay the accumulated debt arising from takeover loans of EUR 21 million. The relatively small current operating margin of 6.6 percent is inhibiting growth at CM.com. Capital brought in by the intended IPO should boost that growth. The company is aiming for an annual growth of 35 percent and a gross operating profit of over 20 percent for the medium term.
