ADVERTISING tech firm Matomy Media has pulled plans for a $300m (£180.7m) premium listing in London due to a lack of interest from European investors.
Matomy is understood to have received ample interest from US investors, where it is now expected to pursue a listing.
The Israeli business picked London over the Nasdaq to raise $100m (£60m) late last year, but yesterday said UK requirements at 25 per cent of shares issued must be held by European investors had caused it to scrap its plans.
“Despite a well-received bookbuild, in which Matomy obtained sufficient demand from high quality investors to cover the deal size, the Board has decided not to proceed with the initial public offering at this time,” said Matomy.
“The negative share price performance and volatility in the advertising tech sector over recent weeks was an additional factor,” Matomy added.
Blinkx, the London-listed video advertising firm, saw its share price plummet by 30 per cent at the end of January after a Harvard professor published a critical blog post questioning the firm’s advertising tactics, muting investors’ interest in Blinkx.