Yehey IPO
Posted on August 7th, 2008
Because of this Yehey.com is postponing its plans to for an initial public offering. They are not the only company that has withdrawn its IPO plan, Cebu Pacific also shelved its planned IPO because of the current market condition. “Stock market conditions haven’t changed and remains at its all-time low. We deem that prospects are not good for us to list at this point in time,” these were the words of Donald Lim, Yehey’s chief executive.
Currently, Yehey is under publicly listed iVantage Corp, who owns 80% of the company’s stake while the rest is owned by individual shareholders. It is their way of introducing themselves in the bigger market as a company. Once the market situation stabilized, Lim said they will push through with the planned IPO.
One of the country’s longest-existing Internet portal, Yehey was established in 1996 and has since evolved from content services to online advertising and reselling Google and Yahoo ad spaces to local market.
[...] project spearheaded by the department of tourism will advertised all over Japan, Korea, Hongkong and other parts of the Asia Pacific, including India and Spain. [...]