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October 25, 2006
IPO Buzz For Germany's Asknet
Reuters quotes an unnamed source that an IPO is in the works for Asknet, the German online software distribution platform provider. The report said Asknet declined to comment on the rumour. It's on a growth path and an IPO would be reasonable to expect. It also has sales and operating data and some market analysis.
The bookbuilder's analyst said Asknet should be valued at 15 times earnings - with losses on the book well that might be tricky.
Asknet is backed by AdAstra and two other German funds, as well as Softbank.
Due to heavy investment, particularly in the key U.S. market, Asknet would make a loss this year but was likely to break even in 2007 and reach an operating margin of above 20 percent in 2008, Hasler said.Asknet shares ought to be valued at around 15 times 2008 earnings, Hasler said. At Tuesday's close, Digital River was priced at just over 20 times projected 2008 earnings, according to Reuters Estimates.
Asknet, which had revenues of 35 million euros ($44 million) in 2005 and made an operating loss of 1.2 million euros, has increased its workforce to 117 this year from 66 at end-2005.
Read Software download firm Asknet eyes Nov IPO-source (Reuters.com)
Read Softbank Invests In Asknet's Japanese Market Expansion Archives(the a:c euro)
Posted on October 25, 2006 02:38 PM | Posted to News And Updates | Online services | Permalink
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