Haaretz: Babylon plans U.S. offering
Jul.20, 2012 | 8:44 AM–After a half year of rumored contacts with various American investment banks, the online translation company Babylon formally announced yesterday that it had begun work on selling shares in the United States.
The company said it was in preliminary discussions with banks, which was enough to send its Tel Aviv Stock Exchange-traded shares up 5.5% to close at NIS 36.88 and cap a 300% rally since the start of the year.
“The reason that we have been exploring an offering is not because we need to raise capital but the need to expose the company to the wider world where companies with similar businesses to our trade,” said CEO Alon Carmeli in an interview with TheMarker.
“Exposure overseas will add significantly to the value of the company.”…Read More>>
