Bemobi makes second filing for IPO in Brazil

OSLO, Norway, Jan. 18, 2021 /PRNewswire/ -- Reference is made to the stock exchange release dated 22 October 2020, where it was announced that Otello's subsidiary Bemobi has made a preliminary filing for a listing of the Bemobi business in Brazil. The board has now decided to proceed with the listing process by making a second filing with the Brazilian Securities Commission and to commence a road show for the purpose of attract investors for an initial public offering ("IPO") of Bemobi. It is expected that the first day of trading will occur mid-February 2021, but investors should note that the listing is subject to market conditions and the fulfillment of several outstanding items and matters being concluded to Otello's satisfaction, including the valuation of the Bemobi business. Consequently, no assurances can be or are given that the IPO and listing process will proceed and be completed.

Petter Lade, CFO
Phone: +47 91143878
E-mail: [email protected]

About Otello:

Otello holds shares in several different businesses, including (i) AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion; (ii) Bemobi, a Mobile Media and Entertainment company which integrate people and mobile content through technology and offers a leading subscription-based discovery service for mobile apps in Latin America and beyond; (iii) Skyfire which offers cloud-based network solutions for mobile operators and (iv) Vewd which offers OTT services in the Connected TV space.

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SOURCE Otello Corporation ASA