Seekport plans Nasdaq listing in six months

German search engine Seekport Internet Technologies, an associate of Indian IT company Aftek Infosys, is planning a Nasdaq listing that will propel it to the league of global search engine majors like Google, MSN and Yahoo among others.

Seekport is also launching its search engine in India, which will be available in English and Hindi, and in selected vernacular languages.

"Seekport is planning for a primary listing on alternative investment market in London to raise fund from the market. Subsequently, we will plan for a listing on the Nasdaq and we estimate the company to be listed in another six months," Aftek Infosys chairman and chief executive officer Ranjit Dhuru told Business Standard.

Aftek Infosys holds 33 per cent stake in Seekport and has plans to increase it further.

The Indian company has developed a solution, Search Engine Performance Advertising, which will be provided to Seekport in exchange for a further stake. However, Dhuru did not divulge the details of the proposed increase in stake.

Seekport has posted revenues of euro7.5 million last year, which in 2006 is expected to be 14 million. The company expects to post revenues of euro35 million by the end of 2007. At present, it has operations in Germany, UK, France, Spain and Australia.

The search facilities will also be launched in Marathi and two south Indian languages.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group