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Since the Nasdaq market crash in March this year only one Latin American internet company, AOL Latin America, has managed to go public.
It is one of the few firms with a record of good performance, granted by its market-leading parent, AOL. Even that deal barely succeeded and the vendor and lead banks had to reduce the initial offer price of the shares by half. The feeling persists that if they cannot do it, who can?
Without a feasible exit strategy, venture capital, too, is hard to find these days for Latin American internet plays.
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