Internet Business Group To IPO


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London-based Internet services venture Internet Business Group (IBG) is to float on the LSE's Alternative Investment Market, the company announced Thursday. IBG is built around new media services agency Mazware, - a commercial site building application and Lighthouse New Media, a design consultancy. IBG said the institutional placing would raise 5 million, leaving the company capitalized at around 21 million when trading commences on May 2. IBG said in addition to its web development and design subsidiaries it had stakes in seven online ventures. The company has a 16-strong software development arm in Iran.