UPDATE 1-Israeli ad firm Matomy seeks out London float again - source

Fri Jul 4, 2014 11:46am EDT

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(Adds detail on offering, company)

LONDON, July 4 (Reuters) - Israeli digital advertising firm Matomy Media Group is once again seeking a London flotation, a source familiar with the matter said on Friday, just months after postponing its listing amid a stumble in high-profile Internet stocks.

Matomy, which counts American Express and HSBC among its clients, withdrew its listing in April, one of the first companies of the year to pull plans as European investors balked at a drop in U.S. internet stocks such as Facebook.

Matomy has since trimmed its $100 million offering of new shares, plus an unspecified amount of existing shares. It will now only offer $75 million of new shares, at a fixed price of 227 pence each, giving the firm an equity value post-listing of around 205 million pounds ($349 million).

The books are fully covered at that price, which is a scale-back from the previously expected valuation of closer to 300 million pounds, the source said.

Matomy will follow in the footsteps of Internet food company Just Eat by listing on the London Stock Exchange's High Growth Segment, a part of the main market.

This year has seen a bumper crop of listings, with companies worldwide raising almost half a trillion dollars through share sales in 2014 so far.

Matomy's offer is being led by Canaccord Genuity.

($1 = 0.5877 British Pounds) (Reporting by Freya Berry; Editing by Clare Hutchison and Pravin Char)

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