CMP Media hopes to raise as much as $115 million in an initial public offering filed on Friday (AA 5/5)
. Proceeds from the offering would be used to repay debt and for general purposes. After the offering and taxes are taken into account, CMP would have reported net income of $16.06 million on revenue of $418.06 million last year, up from net income of $9.54 million on revenue of $382.36 million in 1995, according to the SEC filing. CMP did not say how many shares it plans to sell or give a share price for the stock. Goldman, Sachs & Co.; Lazard Freres & Co.; Bear, Stearns & Co. and Furman Selz will underwrite the offering. Shares will trade on the Nasdaq stock exchange under the symbol CMPX. CMP publishes InformationWeek
, Communications Week
, Windows Magazine
and other titles.
Copyright May 1997, Crain Communications Inc.