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Tablet maker DataWind plans to raise about C$30 mln in IPO

05
Jun
2014

By Euan Rocha TORONTO (Reuters) – DataWind Inc plans to raise about C$30 million ($27.41 million) via an initial public offering on the Toronto Stock Exchange that will value the discount tablet maker at about C$117 million, according to documents filed with regulators on Wednesday. Mississauga, Ontario-based DataWind has grabbed headlines in recent years as the maker of the world’s cheapest tablet device, UbiSlate that was initially developed as a budget device for the Indian market. In documents filed with Canadian securities regulators on Wednesday, DataWind said it plans to sell between 5.2 million and 6.3 million shares, at a price of between C$4.75 and C$5.75 a share. Based on the mid-point of the offering size and price range the IPO is expect to raise about C$30 million, and up to C$34.5 million if the book-runners exercise the over-allotment options on the offering.

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