RealTime IT News

BMCMedia Launches Share Offer

Australian online marketing company BMCMedia has announced a public share offer at 50 cents per share which values the group at AUS$61.4 million.

The offer being underwritten by HSBC Securities is for 30 million shares, which will represent approximately 24 per cent of BMCMedia's issued capital.

"BMCMedia's Australian business model will serve as the platform for the company's future development in both the emerging and established overseas markets," said BMCMedia chairman Nick Greiner. "Since expanding into the Asian market earlier this year, the company has already secured representation of 28 Web sites including one of the world's largest Chinese language sites, Sina.com."

In September this year, BMCMedia in association with US Internet advertising company Phase2Media, won the right to represent the official Olympic Internet site for advertising and sponsorship for the Sydney 2000 Games. It is estimated that this site will generate more than 1.4 billion page impressions.

"Our growth will continue to be driven by our strong and growing portfolio of leading sites, strategic partnerships with companies such as Phase2Media and Flycast, as well as the first mover advantage gained from being an early entrant into the Internet advertising market," said the company's managing director, Anthony Bertini.

The company also plans to open three new offices in Asia before the end of the year.