Altice’s adtech firm Teads targets $5 bln valuation in U.S. IPO – Reuters
- Date: 22-Jul-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Altice’s adtech firm Teads targets $5 bln valuation in U.S. IPO – Reuters
July 21 (Reuters) - Advertising technology company Teads BV, owned by French telecom company Altice, said on Wednesday it aims to raise up to $808.5 million through an initial public offering on the Nasdaq at a valuation of about $5 billion.
The company's existing shareholders plan to sell 38.5 million shares in the IPO, at a price range of $18 to $21 each, after which Altice would hold majority voting rights.
Founded in 2011, Teads provides automated buying and selling of online advertising space, a technology that is fast gaining popularity, to clients including Adidas, Danone SA, Vice Media and BBC Global News.