eyes $100m New York IPO


shares stocks IPOPrivate equity-backed digital discount promotions website is looking to raise $100m via an IPO on the New York Stock Exchange.

The company, which is backed by Passport Ventures and T Rowe Price Group, will trade under the symbol COUP, according to a document filed with US securities regulators. did not say how many shares it was looking to float and at what price.

T. Rowe Price owns 11.66 per cent of the company, while Passport Ventures holds a 22.56 per cent stake. Other shareholders include Abu Dhabi Investment Council and SMALLCAP World Fund, which own 5.82 per cent and 5.25 per cent, respectively.

Goldman Sachs, Allen & Company, BofA Merrill Lynch and RBC Capital Markets are acting as bookrunners for the IPO, the filing showed.

In the first nine months of 2013, the company saw its revenues surge 51 per cent from a year earlier to $115.3m, while its losses fell 75 per cent to $12.5m

Back in 2011 Coupons received a $200m investment from institutional backers.

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