PeerTV files for London IPO

PeerTV posted over $5m. revenue in the first half of 2010, up from $3.5m. in 2009 as a whole.

By YOSSI NISSAN / GLOBES
October 19, 2010 07:05
1 minute read.
Sony's 3-D television is introduced as a model wat

Sony's 3-D television. (photo credit: AP)

IPTV solutions developer PeerTV Ltd. plans to hold an IPO on London’s Alternative Investment Market (AIM). The Israeli start-up plans to raise up to £6 million gross at a company value of £20m. The 8.58 million shares will be offered at between £0.62 and £0.72.

The IPO opens this week, and is due to close in the first week of November. Shares will be offered to both institutional investors and the public.

PeerTV plans to offer 34 percent of its shares and to use the proceeds to capitalize on opportunities in the Internet TV market. Libertas Capital Corporate Finance Ltd. is the nominated adviser and broker for the offering.

PeerTV’s offering is the first IPO by an Israeli company on the London Stock Exchange in more than three years.

PeerTV’s technology enables TV service providers to deliver specific, livestreamed channels and Video-On-Demand (VOD) to TV sets over the Internet.

PeerTV’s customers use its solutions and technology to deliver multichannel niche content across the globe with appeal to specific communities, in particular ethnic or national communities looking to receive content outside of their place of origin.

PeerTV posted over $5m. revenue in the first half of 2010, up from $3.5m. in 2009 as a whole. Operating profit was $300,000 in the first half, and net profit was $200,000.


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