MobiTV abandons IPO plans

News Wireless Global 16 JUL 2012
MobiTV abandons IPO plans
MobiTV has abandoned plans to list on the stock market. The company filed a statement with the US SEC asking that its previous registration of the IPO be withdrawn, due to "unfavourable market conditions". It first registered the IPO last September and said it aimed to raise USD 75 million.

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Mobile

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MobiTV

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UNITED STATES 1 SEP 2011

MobiTV files for IPO

MobiTV has filed in the US for an initial public offering of shares. The company listed a maximum USD 75 million in proceeds from the IPO in its SEC filing, for the purposes of calculating the registration fee. It did not say how many shares it would sell or at what price. The proceeds would go towards working capital. MobiTV reported a net loss of USD 8.2 million for the first half of 2011 on revenues of USD 37 million. That compares to a loss of USD 9.8 million and USD 31.5 million in revenues in the year

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