Bemobi trading commences
Bemobi (BMOB3) had its first day of trading on February 10th on the Bovespa stock exchange in Brasil.
Otello ownership pre-IPO was 34 553 860 shares in Bemobi, equal to 83.92% ownership, with other shareholders holding 6 622 610 shares (16.08% ownership) and hence a full sharecount of 41 176 470. The base offering for the IPO was 49 732 622 shares, hence giving a total sharecount post-IPO of 90 909 092 shares and with Otello ownership reduced to 38.01%. With a full utilization of the greenshoe option, Otello will by selling 6 388 478 shares be reducing its ownership to 30.98%.
As part of the use of proceeds in connection with the IPO a dividend will be paid from Bemobi Mobile Tech S.A to Bemobi Holding AS pre-IPO (based on their ownership) of R$431,637,688.80 (approximately $80million) of which R$362,215,321.83 (approximately $67million) goes to Otello Corporation ASA.
Petter Lade, CFO
Phone: +47 91143878
E-mail: petterl@otellocorp.com
About Otello: Otello holds shares in several different businesses, including (i) AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion; (ii) Bemobi, a Mobile Media and Entertainment company which integrate people and mobile content through technology and offers a leading subscription-based discovery service for mobile apps in Latin America and beyond; (iii) Skyfire which offers cloud-based network solutions for mobile operators and (iv) Vewd which offers OTT services in the Connected TV space.