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News > Companies
Advanstar seeks $200M IPO
March 19, 1999: 12:47 p.m. ET

Boston-based trade show organizer and publisher files registration to go public
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NEW YORK (CNNfn) - Publishing company and trade show organizer Advanstar Inc. filed Friday to launch a public offering in the hope of raising as much as $200 million.
     Filing its registration statement with the Securities and Exchange Commission, Boston-based Advanstar said it hopes to use proceeds to repay debt, among other "general corporate purposes."
     The joint lead underwriters include Merrill Lynch and Bear Stearns. The company didn't specify how many shares would it would offer, nor did it state what ticker symbol it will seek.
     Advanstar, which was incorporated in 1996, reported a pro forma loss of $23.7 million, or $1.60 per diluted share, on revenue of $306.7 million, according to the SEC filing.
     The company's largest magazines include Travel Agent, Video Store and Pharmaceutical Technology. Competitors include the business publishers Crain Communications Inc. and Information Handling Services Group Inc.Back to top

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