InMobi may come up with an IPO in the US
2021-04-01
As per news source, the global mobile-advertising services provider, InMobi Pte is considering a listing in the US by the end of this year. The size of the offering could be $1 billion, valuing InMobi at $12 billion to $15 billion, the source said.
If InMobi makes a successful debut then it could be the first of India’s unicorns to directly list in a US stock exchange, highlighting the country’s shift beyond information technology and outsourcing services.
The sale would be a windfall, at least on paper, for InMobi’s biggest backer SoftBank Group Corp., which owns about 40% of the company. InMobi is about three months from filing an S-1 statement, a registration document submitted to the US Securities and Exchange Commission, and plans an IPO roadshow after that, said the source.
The company is in talks with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. to work on the listing, the source added.
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