Oct 29 French online advertising firm Criteo SA
priced its enlarged U.S. initial public offering at $31
per share, above its expected price range, raising about $250
The IPO pricing shows favorable investor appetite for
technology start-ups ahead of bigger debuts such as social
network Twitter, scheduled to go public next month.
The company, which sold an upsized 8.08 million American
Depositary Shares (ADS)in the offering, had on Monday raised its
expected price range to between $27 and $29 per share from its
previous $23 to $26 per share range. It previously planned to
sell 7.2 million shares.
Criteo was founded in 2005 in Paris and counts travel
website Expedia, computer maker Lenovo and retailer Macy's among
its customers. It will have a market valuation of $1.69 billion
at the IPO price.
The company's ADS are slated to begin trading on the Nasdaq
on Wednesday under the symbol "CRTO."
Blackstone Group LP's Brixmor Property Group Inc,
which is also scheduled to go public on Wednesday, upsized its
initial public offering earlier on Tuesday.
Criteo filed its intention to go public in the United States
in September when it filed with the Securities and Exchange
Commission to raise up to $190 million.