September 16, 2019 / 1:48 PM / a month ago

Dutch tech firm CM.com eyes $110 million IPO in Amsterdam

AMSTERDAM (Reuters) - Dutch communications technology company CM.com is looking to raise around 100 million euros ($110 million) through an initial public offering of shares in Amsterdam in the coming weeks, it said on Monday.

CM.com provides a platform combining popular messaging channels to allow companies to communicate with customers via social media and text messages, and also handles mobile payments.

The company, which serves international brands such as Tencent, Alibaba.com, McDonalds and Accor Hotels, said it expects revenue to rise significantly from 2020, with a medium-term annual growth target of over 35%.

Sales rose 5.5% to 44.3 million euros in the first six months of this year, while operating profit fell 17% to 451,000 euros.

The company, which has 267 employees in 14 countries, said it will issue new shares, while the two current owners, and co-founders, may also sell a small part of their holdings.

Investors should not expect any dividend payments in the years to come, CM said, as the company plans to re-invest any future profit.

Reporting by Bart Meijer; Editing by Jan Harvey

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