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comScore IPO Moves Ahead
Having announced its plans to go public earlier in the year, online audience measurement firm comScore has now confirmed its initial public offering of 5 million shares valued at an estimated price of between $14 and $16 per share.
The firm publicised its intentions in April (www.mrweb.com/drno/news6633.htm ). Since its launch in 1999, comScore has raised more than $92 million in venture capital funding from a number of investors including Accel Partners, JPMorgan and Lehman Brothers: it hopes to raise about as much again with the IPO, for working capital, capital expenditures and possibly to fund potential acquisitions.
The company will trade on Nasdaq under the ticker symbol 'SCOR', and in an amended filing with the US Securities and Exchange Commission said that it would be underwritten by Credit Suisse and Deutsche Bank Securities, which have the option to buy 750,000 shares to cover over-allotments.
The firm's market capitalisation is expected to be around $410.8 million after the offering. For the quarter ended March 31, the company reported earnings of $655,000 attributable to common stockholders, on revenue of $18.7 million.
comScore, which is currently seeking MRC accreditation following a request from the Interactive Advertising Bureau to submit to a third-party audit of its measurement processes (www.mrweb.com/drno/news6703.htm ), is online at www.comscore.com .
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