Israeli digital ad firm Matomy seeks to raise $100 mln on LSE

TEL AVIV, March 10 Mon Mar 10, 2014 3:42am EDT

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TEL AVIV, March 10 (Reuters) - Israeli digital advertising firm Matomy Media Group said on Monday it is planning an initial public offering on the main market of the London Stock Exchange with the aim of raising $100 million.

Matomy said the offering will give it additional capital to accelerate its development and growth and facilitate further access to public equity markets.

It plans to use the proceeds in part to acquire additional shares in Team Internet AG, increasing its stake to 70 percent from 20 percent at a cost of $19.3 million, the company said.

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