Ad tech company Criteo increases range to $27 to $29, deal size is now $202 million
Criteo, a global online display ad retargeting company with
over 4,000 clients, raised the proposed deal size for its
upcoming IPO on Monday. The Paris, France-based company now plans
to raise $202 million by offering 7.2 million shares at a price
range of $27 to $29. The company had previously filed to offer
the same number of shares at a range of $23 to $26. At the
midpoint of the revised range, Criteo would raise 14% greater
proceeds than previously anticipated and would command a fully
diluted market cap of $1.7 billion, a 15% increase from its
previously proposed market cap of $1.5 billion.
Criteo, which was founded in 2005 and booked $459 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol CRTO. Criteo initially filed confidentially on May 31, 2013. J.P. Morgan, Deutsche Bank and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of October 28, 2013.