Loyalty Alliance postpones US IPO

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Loyalty Alliance Enterprise, a provider of mobile direct marketing and customer loyalty solutions in China, postponed its IPO on Thursday. The Hong Kong-based company had originally planned to go public in August 2011 but postponed its offering due to market turmoil. It revived its plans at the end of April 2012, offering 5.1 million shares at $12 to $14 (later cut to $6 to $8).

The new postponement makes it likely that the post-Facebook IPO drought (currently 28 days) will stretch into July, making June just the second month without a US IPO in over 3 years (the last was September 2011).

Loyalty Alliance was founded in 2009 and booked $31 million in sales in 2011. Macquarie Capital, Needham & Co. were set to be the joint bookrunners on the deal.

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: News Headlines , IPOs
Referenced Symbols: LAEC

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