Nazara Technologies IPO
Nazara Technologies is based in China and is planning an upcoming IPO on the NASDAQ. The Chinese tech company offers downloading services and digital media streaming services and cloud computing platforms. The Nazara Technologies IPO will involve 7.6 million shares priced at $14 to $16 per share. J.P. Morgan and Deutsche Bank will be the lead underwriters.
Nazara Technologies’s main product is the downloader, which accelerates downloads on the internet. They also run the video streaming website, the third largest video streaming website in China.
A former vice president of Google and head of Google China for four years can be counted among those on the board of directors. This type of celebrity adds to the appeal of a company whose upcoming IPO is under scrutiny. Google owns 2.8% of the company now. Thier symbol on the NASDAQ will be XNET.
Nazara Technologies IPO Valuation
The Nazara Technologies IPO will price the company at about $114 million to $120 million in value. Analysts do not predict a strong IPO because Nazara Technologie’s net income has been declining and there are accounting issues they need to resolve.
On the plus side, their download accelerator is the most popular one in China, with an almost 79% market share. They make money from cloud-based subscription services and advertising.
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