September 18, 2013 / 10:42 AM / 6 years ago

French ad firm Criteo files for $190 mln U.S. IPO

Sept 18 (Reuters) - French online advertising company Criteo S.A. filed with U.S. regulators to raise up to $190 million in an initial public offering of American depositary shares (ADSs).

The company told the U.S Securities and Exchange Commission in a preliminary prospectus that JP Morgan, Deutsche Bank Securities and Jefferies were the lead underwriters for the IPO.

European venture capital firm Index Venture Associates IV Ltd is the largest shareholder in Criteo with more than 23 percent stake.

The filing did not reveal how many ADSs Criteo planned to sell or their expected price.

The company intends to list its ADSs on the Nasdaq under the symbol “CRTO.”

Net proceeds from the offering would be used for enhancing working capital, the company said in the filing. ()

Criteo reported a net profit of $1.3 million for the fiscal year ended Dec. 31 on revenue of $353.7 million.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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