Allyes Online Holding Ltd, a Chinese Internet advertising services firm, has submitted a proposal to the U.S. Securities and Exchange Commission for an initial public offering to trade stock stateside.
The IPO proposal constitutes a draft registration statement and is subject to Allyes filing a public registration statement with the SEC and its acceptance, according to an announcement from parent company Focus Media Holding Ltd.
The number of shares and dollar amount of shares that might be offered through an IPO has not yet been determined.
Allyes operates as a subsidiary of Shanghai-based Focus Media, a digital media company that acquired Allyes in February 2007 so it could enter the Chinese Internet advertising market.
Allyes offers services and technology to companies in China for distributing targeted advertising to mobile handsets and through SmartTrade, an online ad network encompassing more than 5,000 Web sites.
With its targeting and tracking software, Allyes has accumulated a large database of Internet users, segmented based on consumer behavior and lifestyle for demographic targeting.
Allyes’ software is reportedly used by 80% of independent commercial Web sites and advertising agencies in China. The firm was founded in 2000.
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