Mobile marketer TIM w.e. eyes U.S. listing: sources
LONDON/NEW YORK |
LONDON/NEW YORK (Reuters) - TIM w.e., a Portuguese mobile and digital marketing company, is planning to list on New York's Nasdaq, three people familiar with the matter said on Thursday.
TIM w.e. has hired Credit Suisse as its lead adviser on the initial public offering, two of the people said, although it is likely to add other banks later.
Preparation for a listing is at an early stage, making a precise valuation difficult, but the IPO could value the company at hundreds of millions of dollars, two of the sources said.
An IPO could come as soon as the second half of 2011, another of the sources said.
Former banker Diogo Salvi founded the company in 2002. Its services include interactive marketing and providing content such as music, pictures, video and games, and its clients include mobile operators such as Sprint and Verizon in the United States, Norway's Telenor, and Vodafone of Britain.
It had revenue of 166 million euros (US$223 million) in 2009, up 32 percent from the previous year, according to its website.
TIM w.e. officials in Lisbon did not immediately respond to telephone and email requests for comment. Credit Suisse had no immediate comment.
(Reporting by Quentin Webb in London and Clare Baldwin in New York)
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