Genealogy web site Ancestry.com hopes to raise about $100 million when it goes public this week. With more than a million paying subscribers, little competition, a small debt load and a record of increasing revenues, it may fare better than other IPOs that have recently priced below their filing ranges.
The Provo, Utah-based company, which is the world's largest online resource for birth certificates and marriage records, expects to price the shares between $12.50 and $14.50 apiece on Wednesday. Underwriters are being offered up to an additional 1.1 million shares to cover overallotments, which would boost total proceeds to about $115 million.
The Provo, Utah-based company, which is the world's largest online resource for birth certificates and marriage records, expects to price the shares between $12.50 and $14.50 apiece on Wednesday. Underwriters are being offered up to an additional 1.1 million shares to cover overallotments, which would boost total proceeds to about $115 million.
Ancestry's revenue jumped from $122.6 million in 2004 to $197.6 million in 2008. In the nine months that ended Sept. 30, the company earned $12.2 million, or 30 cents per share, a more than threefold increase from the $3.5 million, or 9 cents per share, it earned in the same period a year earlier.
The stock had been planned to go public today but, so far, the online financial services are not reporting any trading activity.
The presentation by ancestry.com's management for institutional investors can be found here.
http://www.retailroadshow.com/roadshows.asp
The presentation usually becomes unavailable after the stock starts trading.
Posted by: Dave | November 04, 2009 at 02:52 PM