Opera Sets IPO Date, Price

By Matthew Hicks  |  Posted 2004-02-26 Print this article Print

The browser maker hopes to raise as much as $22.8 million when its shares begin trading on the Oslo Stock Exchange in two weeks.

Browser maker Opera Software ASA is moving ahead with its initial public offering, announcing on Thursday that it expects to begin trading shares in the Norway-based company on March 11 on the Oslo Stock Exchange. Operas board of directors decided to issue between 15 million and 16.1 million shares in the company. With a planned offering price between 8 and 10 Norwegian kroner a share, Opera hopes to raise between 120 million and 161 million kroner, which translates to between about $17 million and $22.8 million. The company, which announced IPO plans earlier this month, has said it is going public to raise money for growth as it competes with software giant Microsoft Corp. in the Web browser market and increasingly signs deals to put its mobile browser on mobile phones and devices.
Read more here about Operas recent Web browser releases.
Operas Web browser is the third most popular browser with a 0.8 percent market share, behind Internet Explorer (94.8 percent) and the open-source Mozilla browser (1.8 percent), according to data from Web analytics vendor OneStat.com. Opera plans to offer shares in two groups—one for Norwegian and international investors and another for Norwegian retail investors, the company said. Opera will trade its shares under the ticker symbol "OPERA." Opera has retained Enskilda Securities ASA and ABG Sundal Collier ASA, both of Oslo, Norway, as advisers for the offering.
Matthew Hicks As an online reporter for eWEEK.com, Matt Hicks covers the fast-changing developments in Internet technologies. His coverage includes the growing field of Web conferencing software and services. With eight years as a business and technology journalist, Matt has gained insight into the market strategies of IT vendors as well as the needs of enterprise IT managers. He joined Ziff Davis in 1999 as a staff writer for the former Strategies section of eWEEK, where he wrote in-depth features about corporate strategies for e-business and enterprise software. In 2002, he moved to the News department at the magazine as a senior writer specializing in coverage of database software and enterprise networking. Later that year Matt started a yearlong fellowship in Washington, DC, after being awarded an American Political Science Association Congressional Fellowship for Journalist. As a fellow, he spent nine months working on policy issues, including technology policy, in for a Member of the U.S. House of Representatives. He rejoined Ziff Davis in August 2003 as a reporter dedicated to online coverage for eWEEK.com. Along with Web conferencing, he follows search engines, Web browsers, speech technology and the Internet domain-naming system.

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