China Online Ad Firm Allyes Plans $100 Million NASDAQ IPO

Allyes AdNetwork, one of China’s largest online advertising firms, hopes to raise about $100 million in an initial public offering of shares on Nasdaq in the first half of 2007, Reuters reported Thursday. Shanghai-based Allyes, which counts Dell among its clients, had hired Morgan Stanley to underwrite the offer, which could be launched as early as in the first quarter.
Allyes received a combined $30 million investment in 2005 from venture capital firms IDGVC and OAK Investment Partners.
The article said Allyes, which operates six offices around China, controls about half of the country

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