<article>Norwegian online browser <a href="https://www.dealstreetasia.com/?s=Opera">Opera</a>, which was bought by a Chinese consortium for $600 million in 2016, filed for an initial public offering (IPO) on the Nasdaq, seeking to raise $115 million.</article>

Norwegian online browser <a href="https://www.dealstreetasia.com/?s=Opera">Opera</a>, which was bought by a Chinese consortium for $600 million in 2016, filed for an initial public offering (IPO) on the Nasdaq, seeking to raise $115 million.
In its filing with the <a href="https://www.sec.gov/Archives/edgar/data/1737450/000114420418036749/tv496863-f1.htm#tUSE">US Securities and Exchange Commission</a> (SEC), Opera said it will list on the Nasdaq under the symbol OPRA, with CICC and Citi acting as the joint bookrunners for the deal.
Although the number of American Depository Shares (ADS) to be offered and the price range for the proposed offering have not yet been determined, Opera set the proposed maximum aggregate offering price at $115 million in calculating the amount of registration fee.
In the filing, Opera said <a href="https://www.dealstreetasia.com/?s=Bitmain">Bitmain</a>, <a href="https://www.dealstreetasia.com/?s=IDG%20Capital Fund">IDG Capital Fund</a>, and <a href="https://www.dealstreetasia.com/?s=IDG%20Capital Investors">IDG Capital Investors</a> have agreed to purchase $50 million, $9.53 million, and $471,000, respectively, worth of its ordinary shares, at a price per share equal to the IPO price adjusted to reflect the ADS-to-share ratio.
&#8220;The primary purposes of this offering are to create a public market for our ordinary shares in the form of ADSs for the benefit of all shareholders, retain talented employees by providing them with equity incentives and obtain additional capital,&#8221; Opera said.
Additionally, the company plans to use the net proceeds of its offering for research and development, especially in the fields of AI-driven content discovery and recommendation platform.
It also seeks to fund distribution and marketing efforts to further improve brand awareness across all markets and pursue strategic partnership, investment, and acquisition opportunities.
Opera said it served 321.7 million average monthly active users in the three months ended March 31, 2018, of which 239.4 million were smartphone and PC users, up from 202.5 million smartphone and PC users during the same period in 2017.
In the third quarter of this year, Opera said it recorded $39.4 million in operating revenue, up 54.8 per cent from $25.5 million for the same period in 2017. The company had a net income of $6.6 million in the three months ended March 31, 2018, compared to a net loss of $0.2 million a year ago.
In 2016, Opera sold its browser business, its privacy and performance apps, tech licensing, and its name to a Chinese consortium led by search and security firm Qihoo 360, according to an <a href="https://www.engadget.com/2016/07/18/opera-browser-sold-to-a-chinese-consortium-for-600-million/">Engadget report</a>. The Norwegian company keeps its consumer division, including Opera Apps &amp; Games and Opera TV.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/clock-ticking-on-1-2-billion-chinese-bid-for-norways-opera-47278/">Clock ticking on $1.2b Chinese bid for Norway’s online browser Opera</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/chinese-takeover-of-norways-opera-fails-alternative-proposed-47773/">Chinese takeover of Norway’s Opera fails, alternative proposed</a>

Bitmain, IDG Capital Fund, and IDG Capital Investors have agreed to purchase $50 million, $9.53 million, and $471,000, respectively, worth of Opera's ordinary shares.

Chinese-owned online browser Opera files for $115m US IPO

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Chinese-owned online browser Opera files for $115m US IPO

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