E-commerce and marketing provider Acquity Group sets terms for $50 million US IPO


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Acquity Group announced terms for its IPO on Wednesday. The Hong Kong-based company plans to raise $50 million by offering 5.6 ADSs at a price range of $8 to $10. At the midpoint of the proposed range, Acquity Group would command a market value of $212 million. It plans to list on the NYSE under the symbol AQ. Citi and Oppenheimer & Co. are the joint bookrunners on the deal.

Acquity Group provides e-commerce and online marketing solutions to its clients, which include Adobe, Allstate, American Express, General Motors and HTC. In 2011, sales increased 47% to $107 million and operating income grew from $5 million to $16 million.

Another e-commerce platform provider, Demandware (DWRE), has performed very well since its IPO in mid-March. It priced above the range, gained 47% in its first day of trading, and is currently trading 68% above its offer price.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing IPOs
Referenced Stocks: AQ

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