MakeMyTrip IPO price of 14 dollars to determine
YORK August 12 evening news, headquartered in India, online travel company MakeMyTrip Ltd said, had its initial public offering (IPO) price of 14 dollars determined at the previously announced 12-14 estimated range of high-end U.S. dollar.
the company and its shareholders sold a total of 500 million shares, fund-raising 70 million U.S. dollars.
the underwriters to the selling stockholders may subscribe for up to 75 million additional shares to meet excess demand.
MakeMyTrip said that the proceeds of the offering plan for the possible acquisition of new technology investment and working capital purposes.
the company was first a U.S. website, mainly for those who want to emigrate to India, Indian tourism services. In 2005, the company began operations in India, the country's rapidly growing middle class consumers airline tickets and hotel reservations, bus ticket booking and other services.
despite the company's revenue growth during the recession remains, but never realized in annual operating profit.
the company's shares will trade on the NASDAQ global market, code-named "MMYT". (My humble opinion)
