Altice’s adtech firm Teads targets $5 bln valuation in U.S. IPO

NEW DELHI: Advertising technology company Teads BV, owned by French telecom company Altice, said on Wednesday it aims to raise up to $808.5 million through an initial public offering on the Nasdaq at a valuation of about $5 billion.

The company’s existing shareholders plan to sell 38.5 million shares in the IPO, at a price range of $18 to $21 each, after which Altice would hold majority voting rights.

Founded in 2011, Teads provides automated buying and selling of online advertising space, a technology that is fast gaining popularity, to clients including Adidas, Danone SA, Vice Media and BBC Global News.