Israeli games on demand start-up Exent Technologies Ltd. has filed a preliminary prospectus for an IPO on the Toronto Stock Exchange (TSX). The company has not disclosed the company value or the structure for the proposed offering.
Exent develops and markets software products and services for broadband delivery of video games known as Games-on-Demand (GOD. GOD services are designed to create revenue from the extensive catalogue of video games that are no longer likely to generate significant revenue through retail sales channels.
Exent CEO Zvi Levgoren said that he could not provide more details than those stated in the press release.
GMP Securities LP, Canaccord Capital Corporation, Genuity Capital Markets GP, and Raymond James Ltd. will be the underwriters.
Exent said that proceeds of the offering would be used for R&D to expand and support the company’s product lines and services; expand its sales and marketing activities, expand geographically and enter new markets; and to license and acquire intellectual property.
The TSX has made a strong effort to persuade Israeli companies, especially in high-tech, to list on the exchange. Three months ago, during a visit to Israel, TSX senior manager technology/life sciences, industrial sectors listings Raymond D. King told “Globes” that the first Israeli company would float on the TSX by year end. TSX executives will make their fourth visit to Israel in November to meet companies, venture capital funds, and investment houses.
Published by Globes [online], Israel business news - www.globes.co.il - on October 31, 2007
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