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Online Market Place For Affairs Counting On Europe Not Being Too Good For IPO, Unlike SOME PEOPLE is going to try this IPO thing again.
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Several years back, the parent company of, the leading website for adultery, attempted to raise a little money from the public markets. According to head of international relations Christoph Kraemer, that attempt was unsuccessful due to the Puritanical nature of North American investors, who don't want to see a burgeoning extramarital affair empire prosper. Five years later, it's taking another stab at the IPO enterprise, but doing so in London, where the company hopes it can rely on the locals' more open attitudes towards running around on one's spouse.

Avid Life Media Inc., the Toronto-based holding company that runs along with peers and, wants the new funds for marketing and international expansion...While the U.S. accounts for about 50 percent of its business, Kraemer said “Europe is the only region where we have a real chance of doing an IPO” because of its more liberal attitude toward adultery. “We’re no longer a niche, but it’s been difficult in North America to find the support to go public,” he added...It attempted a share sale in Toronto in 2010 but investor appetite wasn’t there, he said. “Right now our focus is to do our homework on London. It’s our priority and our second attempt at IPOing has to go well. We don’t want to repeat what happened the first time around.”

But seriously, they can't screw this up again. Can you imagine what it would be like going to the annual conference for the Association Of Infidelity Websites having screwed this up a second time? If London doesn't pan out who knows what they'll have to do for the money...

Adultery Website AshleyMadison Seeks IPO as Demand Booms [Bloomberg]


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That's Some Latency

BATS apparently reeeaally wanted those first few trades to be practice trades. This is amazing: Bats Global Markets Inc., the six- year-old equity exchange, canceled its initial public offering, stunning Wall Street after errors on its own computer systems derailed trading in the stock and forced a halt in Apple Inc. (AAPL) “We believe withdrawing the IPO is the appropriate action to take for our company and our shareholders,” Joe Ratterman, the chief executive officer, said in a statement. Asked if that meant Bats is no longer going public, Randy Williams, a company spokesman, replied by e-mail, “Yes, that’s correct.” It's nice to see Bloomberg as incredulous as I am - that paragraph means: the CEO said "we are withdrawing our IPO" and Bloomberg emailed to ask "wait, no, REALLY?" And got the response, "yes, really." Because what's weird here is not a withdrawn IPO but a withdrawn IPO that had already priced. And opened for trading - for a few seconds anyway - to print a few trades at $15.25 (down from last night's IPO price of $16) at around 10:45 this morning before halting, unwinding those trades and ultimately unwinding the IPO.