WIDERTHAN FILES FOR IPO ON NASDAQ
I remember back in 2000 when I first heard about an ATKearney project advising SKTelecom. This project led to the creation of WiderThan, which is now filing for an IPO, but their business is a one-trick pony. A vast majority of their revenue comes from its incestuous relationship with SKT. It is a huge pony, but how much growth is there with WiderThan's business? I know they are working to expand beyond Korea, but how successful will it be? More from Rafat:
Mobile Content Company WiderThan Files For IPO, As Expected [by rafat] : As we wrote about first in June, WiderThan, the Korean mobile content company (it pioneered ringbacks in Korea and has been expanding in U.S. and other countries), has filed for an IPO on Nasdaq...WiderThan is a subsidiary/affiliate of Korean wireless giant SK Telecom.
The company plans to offer 6 million American Depositary Shares, with an estimated price of $14 to $16 each..out of those the company will offer 4 million and shareholders will offer 2 million. JPMorgan, Merrill Lynch & Co. and Lehman Brothers are the underwriters...the stock will trade under the symbol "WTHN"... (more at MocoNews.net)