Matomy raises $70m in London IPO

Ilan Shiloah

The offering closed at 227 pence per share, valuing the digital ad company at $347 million.

Digital ad company Matomy Media Group Inc., controlled by Ilan Shiloach, has completed its IPO in London. Matomy reported today that is raised $70 million at a valuation of $347 million after the money.

Thanks to lively demand, the offering was closed after just one day, at a price of 227 pence per share. Matomy offered 20% of the company to new investors.

Matomy CEO Ofer Druker said, "The success of the offering is another important step towards realizing our aim of becoming one of the leading companies in the world in performance-based digital advertising. We were disappointed that we had to postpone the move earlier this year, but we are feel satisfaction at having managed to complete it successfully, with a vote of confidence in the company by investors. I am sure that, as a public company, Matomy will continue to strengthen and rack up achievements for its shareholders."

Matomy reported first quarter revenue of $68 million (proforma including recent acquisition Team Internet) up from $54 million in the corresponding quarter of 2013. EBITDA was $6.9 million, up from $4.2 million in the corresponding quarter.

Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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Ilan Shiloah
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