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Afilias cancels $100m London IPO

Kevin Murphy, January 6, 2015, 14:56:59 (UTC), Domain Registries

Afilias has cancelled its planned London Stock Exchange IPO due to “market conditions”.

It seems to be a cancellation, rather than a postponement, according to a company spokesperson.

“The final decision to cancel the IPO was based on market conditions at the time,” she told DI today.

No additional information was available, but I suspect the company was not able to drum up sufficient interest, at its target price, from institutional investors in the two-week period between its IPO filing and its due date.

Afilias said on October 28 that it planned to raise approximately $100 million selling shares on London’s Alternative Investment Market.

The flotation was expected to take place November 12, but that date came and went with no action.

AIM is currently the home of rival TLD registries CentralNic and Minds + Machines, neither of which saw any particular share price problems during that two-week window.

Afilias had revenue of $77.6 million in 2013, making an operating profit of $30.4 million and $45 million in operating cash flow, largely from selling .info and .mobi domain names.

The company is the back-end provider for almost 50 live 2012-round new gTLDs and has a couple hundred more deals with applicants whose strings have not yet been delegated.

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