China Online Ad Firm Allyes Plans $100 Million NASDAQ IPO
Allyes AdNetwork, one of China’s largest online advertising firms, hopes to raise about $100 million in an initial public offering of shares on Nasdaq in the first half of 2007, Reuters reported Thursday. Shanghai-based Allyes, which counts Dell among its clients, had hired Morgan Stanley to underwrite the offer, which could be launched as early as in the first quarter.
Allyes received a combined $30 million investment in 2005 from venture capital firms IDGVC and OAK Investment Partners.
The article said Allyes, which operates six offices around China, controls about half of the country
What ALLYES plan to do next, concerning the advertising, and why does it do it's IPO in America?