Skype set to float on US stock market
Skype is set to float soon on the US stock market.
Internet communication company Skype has registered to join the US stock market . The company based in Luxembourg plans to raise approximately 63 million GBP through the flotation of its stock. It is expected that the technology company will trade on the NASDAQ and will sell shares in the form of American Depository Shares. This is the type of share available to foreign companies wishing to trade and sell shares in the United States.
Skype’s leading software revolutionised the way that computers and mobile telephones can be used by users for free over the internet or for a cut price to house phones and mobile phones. There is increasing speculation over the price that shares will initially be offered as no specific release date or price has formally been announced by the company.
According to recent figures released, Skype had over 560 million registered users world wide in the first six months of 2010. These users logged on to Skype for over approximately 95 billion minutes of video or voice calls during that period. Skype revealed that a net profit of $13 million in the first half of 2010, however, the company had also made a loss of $417 million in 2009 due to legal issues over technology ownership. It will be interesting to see the initial offer set to be released soon.
