Australian domain name registrar NetRegistry is planning a public listing for later this year to fund an expansion into Japan and Korea.
The company's CEO and co-founder Larry Bloch, said the IPO was initially planned for August, just before the Olympics, but was delayed by the stock correction in April.
"The feedback we've had from stock analysts shows that NetRegistry is a dot-real' as opposed to a traditional dot-com," Bloch quipped. "We have a history of profits and a working business, whereas prior to April some companies were floating with business plans based purely on opportunity. We obviously can't ignore market conditions but we feel confident that it's a solid company and investors will see it as such."NetRegistry controls the au.com domain space in Australia, and has recently registered jp.com for Japan and kr.com for Korea.
"Some of the funds will be earmarked for development of those two markets, but there's also a sizeable market here and we won't be ignoring that. We will be aggressively pursuing market share."The company has already appointed its investment advisers and is actively recruiting its legal advisers, Board of Directors and auditors, but key details of the float are yet to be announced.
Bloch told ARN he intends to remain at the helm of NetRegistry after the float.
"I'm definitely sticking around. That will certainly be the case as long as I am still having fun, and I'm having lots of fun at the moment. I think I am the best person to pursue the vision, given my history with the company."
