Lanetro Zed, one of the big mobile content providers in Europe and Latin America, has begun the process of going public, selling 30 million shares—two thirds of which are new shares and the rest are already existing shares (PDF in Spanish). The shares sold (and subscribed) are expected to represent 23% of Lanetro’s capital after the increase. Another 4.5 million shares will be reserved as options. The asking price is between 6-8 euros. By my calculations that values the company at between 782 million euros and 1,044 million euros.
It’s first quarter results (PDF, English) showed revenue of 42.9 million euros in Q1 2006, a 46% year-on-year increase. “The company’s EBITDA has increased fourfold in the first quarter of the current fiscal year compared to the same period last year, from 3 million euros to 12.7. Additionally, net profit has increased by 9.5 million euros this year over same period last year, reaching 11.6 million euros, almost six times the 2005 figure for the same period.”
This public offering comes after some rumors that mBlox would buy out the firm.
Related:
—Zed Staines Mobile Industry’s Reputation
—Mobile Content Firm Fined And Banned From Service
—Wisdom Entertainment closes Zed buy For $36.7 Million