UPDATE 2-Velti shares rise in Nasdaq debut

Fri Jan 28, 2011 5:09pm EST

* Shares close at $15.58, 29.8 pct above IPO price

* Trading on Nasdaq under symbol "VELT"

* IPO raised $150.2 million

NEW YORK, Jan 28 (Reuters) - Shares of mobile marketing and advertising company Velti Plc (VELT.O) rose in their U.S. stock market debut on Friday.

The shares closed at $15.58, or 29.8 percent above their $12 initial public offering price on the Nasdaq. The stock is trading under the symbol "VELT." It also trades in London under the symbol "VEL."

Velti's customers include AT&T (T.N), Vodafone (VOD.L) and Johnson & Johnson (JNJ.N).

On Thursday, Velti and its shareholders sold 12.5 million shares for $12 each, raising about $150.2 million.

Underwriters on the offering were led by Jefferies (JEF.N). (Reporting by Clare Baldwin; Editing by Lisa Von Ahn and Carol Bishopric)

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Comments (1)
Upstream wrote:
Velti’s flotation only goes to show what active space we operate in – it’s obviously an extremely interesting time to be in mobile marketing. While much of the press and analysts’ attention has been focussed on display advertising networks, it is important to realize that the companies which will attract future M&A interest will be those that have genuine effectiveness as their focus. In the past, the industry has perhaps been guilty of placing too much emphasis on quantity rather than quality – looking at “reach” or how many impressions a mobile marketing company can deliver rather than how effective or profitable those impressions are. In the future, I would expect companies with a more generalist focus to attract less interest, and those with a specific, profitable and proven solution to take precedence.

Jan 28, 2011 1:52pm EST  --  Report as abuse
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