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Skype files request to sell shares at up to $100M


Agence France-Presse
First Posted 06:16:00 08/10/2010

Filed Under: Financing an Stock Offerings, Company Information

NEW YORK?Internet communications giant Skype on Monday announced plans to raise up to $100 million in shares by listing on the NASDAQ stock exchange.

The Luxembourg-based firm filed a request to sell an unspecified number of American depository shares on the technology stock exchange in an initial public offering.

Skype, which allows users to have online phone, video and text conversations, however did not say when its shares would be floated or at what price.

Online auction giant eBay late last year sold a majority stake at Skype for some $2 billion to a group of investors that included the two founders of the company. The deal valued Skype at $2.75 billion.

EBay shares were up by more than two percent on Monday.

According to its registration statement, Skype had generated $406 million of net revenues in the first half of 2010 and counted 560 million registered users.

The firm, which has its headquarters in Luxembourg and was founded in 2003, bypasses the standard telephone network by channeling voice and video calls over the Internet.

It allows users to call others free of charge and provides the ability to connect with land lines or mobile devices at low rates.



Copyright 2011 Agence France-Presse. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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