Paktor / M17 Initial Public Offering Able to Launch Today

M17 Entertainment, parent company of dating app Paktor, is able to launch its US IPO today (5/29/18).

Nasdaq.com reports that the company is seeking to raise $83 million by offering 7.5 million ADSs for between $10 and $12.

The firm will trade on the New York Stock Exchange using the symbol YQ. Citi is the lead underwriter for the IPO.

Much of the IPO will focus on the live streaming potential of other properties under the M17 umbrella, such as dedicated streaming service M17 media.

Paktor itself will also look to integrate video streaming as part of the transition.

M17 dating properties currently host over 700,000 monthly active users across brands Goodnight, Kickoff and Paktor.

Among the other technology companies carrying out US IPOs this week are cloud-based sales tax and compliance solutions provider Avalara, outsourced IT service provider SharedLabs, and cloud-based software for financial planning provider Adaptive Insights.

Read more here.