Avast Software IPO watch: Czechic security software company Avast Software B.V. announced its IPO price range of $9-$11 and plans to sell 900 million shares in this deal. The company has proposed to list its common shares on the NASDAQ Global Select Market under the symbol “AVST.” Read the update: Avast Software IPO is withdrawn.
On the basis of an assuming public offering price of $10, the middle point of the announced Avast Software IPO price range, the company will collect proceeds of approximately $90 million from the sale of common shares in this public offering and the company’s total share capital will be $84.6 million.
Avast Software is headquartered in Prague, Czech Republic, and has about 191 employees and offers 43 languages of productions, and has 159 million users. Avast adopts the freemium model, including avast! Free antivirus software for home users, and high-end solutions for the enterprises. The company grew revenue by 69.28% to $82.10 million for fiscal 2011; gross profit for this period increased by 73.71% to $77.15 million; gross profit margin reached 93%; operating profit surged 78.28% to $46.227 million and operating margin was 56.3%; net profit soared by 78.43 % to $26.69 million and net profit margin was 32.4%.
Avast submitted its IPO registration statement to the U.S. SEC (Securities and Exchange Commission) onDecember 21, 2011 and proposed to raise $200 million at most. Avast Software IPO lead underwriters are UBS Securities and Deutsche.
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