OpenBC/Xing is Public

Ending a cuirous wait for me, OpenBC/Xing is now listed, with a market cap of about 157MM Euros.  They raised 35MM Euros, falling short of the once rumored 100MM mark, but very impressive nevertheless.  Congratulations to all involved.

I now have my eyes on LinkedIn, whose revenue numbers indicated in Business2.0 are eye popping.

2 thoughts on “OpenBC/Xing is Public

  1. Dear Cem,
    The rumored 100Mio are based on the fact that they announced to float 2’509’049 shares at 30-38 euro range, which make 75-100Mio, they finally went public at 30 and as the greenshoe of 327’268 and 831’781 other shares went to former shareholders, only the remaining 1’350’000 went to the company representing 35Mio.
    Why this?
    You need to float 100Mio to justify a prime standard quotation in Frankfurt, and if you don’t need that much money and/or you do not want dilute some shareholders (the founders!?) too much you sell some investor shares instead…
    source:
    http://www.dgap.de/link.php?plugin=db_anzeige&id=75088&bereich=home&hp_lang=de&template=default&seite=1&anzahl=10&von=19970101&bis=20061206&typ=ADHOC&sprache=de&isin=DE000XNG8888

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  2. OpenBC IPO: 100MM vs. 35MM

    In a comment, Alfonso von Wunschheim brings a welcome explanation to the confusion around how much OpenBC intended to raise. Thanks, Alfonso.The rumored 100Mio are based on the fact that they announced to float 2’509’049 shares at 30-38 euro range,

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