Digital ad firm Aleph Group files for an estimated $300 million US IPO

By Renaissance Capital,

Aleph Group, which provides tech platforms with ad distribution services in emerging countries, filed on Monday with the SEC for an initial public offering.

Aleph Group describes itself as a global enabler of digital advertising working in emerging and underserved countries. The company has commercial agreements with major digital platforms such as Twitter, Meta, Microsoft, Snapchat, TikTok, Spotify, and Twitch, working with over 12,900 local advertisers to reaching nearly three billion consumers in 77 different countries.

The Dubai, United Arab Emirates-based company was founded in 2005 and booked $168 million in pro forma revenue in 2021. It plans to list on the NYSE under the symbol ALEF. It had been on our Private Company Watchlist since October 2021. J.P. Morgan, Citi, Goldman Sachs, BofA Securities, UBS Investment Bank, Deutsche Bank, BNP Paribas, and Macquarie Capital are the joint bookrunners on the deal. No pricing terms were disclosed.

Source : https://www.renaissancecapital.com/IPO-Center/News/90766/Digital-ad-firm-Aleph-Group-files-for-an-estimated-$300-million-US-IPO

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