Between poor returns and the normal February lull, the IPO pipeline has been relatively quiet. This week, a digital advertising firm broke the silence with the month’s first US IPO filing.
Dubai-based Aleph Group (ALEF) filed on Monday for a deal we estimate could raise up to $300 million, the first issuer to file for a $100+ million US IPO in several weeks. Backed by CVC, the company enables tech platforms to distribute ad inventory in emerging countries, where it believes economic growth and increasing digital penetration provide untapped opportunity.
While a number of AdTech platforms have IPO'd in recent years, Aleph could the first advertising services firm to go public in the US since...
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