Yahoo plans to list its shares back through an IPO

04 Jul 2023

Riyadh - Maaal

SUNNYVALE, CA - JULY 17: The Yahoo logo is displayed in front of the Yahoo headqarters on July 17, 2012 in Sunnyvale, California. Yahoo will report Q2 earnings one day after former Google executive Marissa Mayer was named as the new CEO. Photo by Justin Sullivan/Getty Images)

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Yahoo plans to return to the financial markets, CEO Jim Lanzon told the Financial Times.

Lanzon said that the company still ranks fifth in the world in terms of movement and will be bold in pursuing merger and acquisition opportunities, as reported by Al-Arabiya.

The company, which is owned by Apollo Global Management, has suffered from falling online spending due to volatile consumer confidence.

Lanzon added, “She is financially ready. The company has a big budget, we have a very big profit,” echoing comments he made in February when cutting jobs and restructuring the advertising technology division.

Apollo bought Yahoo in 2021 and saw an IPO as a “likely and decent” opportunity, according to partner Reid Ryman.

This comes, while IPO activity in the technology sector has rebounded significantly this year, with the “Soft Bank” group preparing to launch ARM, and the division of the “Alibaba” group into 6 units, as the markets are practically anticipating initial public offerings for five of them.