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Security software provider Avast Software withdraws $90 million IPO

By Renaissance Capital,  July 25, 2012, 05:39:13 PM EDT

Avast Software, which provides the world's most widely used consumer security software, withdrew its plans for an initial public offering on Wednesday. The Prague, Czech Republic-based company was looking to raise $90 million in an offering this week when it postponed its IPO citing poor market conditions.

Avast Software was founded in 1988 and booked $91 million in sales for the 12 months ended 3/31/2012. UBS Investment Bank, Deutsche Bank Securities and Jefferies & 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 The NASDAQ OMX Group, Inc.


This article appears in: News Headlines, IPOs

Referenced Stocks: AVST



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