Home / Today's Top Stories / Moscom pulls plug
on Votan IPO

Moscom pulls plug
on Votan IPO

Moscom Corp. has called off the initial public offering of its California subsidiary, the company announced this afternoon.
After the news, Moscom’s stock tumbled more than 16 percent to the $9.50 range, down from yesterday’s close of $11.38.

Moscom pulls plug
on Votan IPO

Moscom Corp. has called off the initial public offering of its California subsidiary, the company announced this afternoon.
After the news, Moscom’s stock tumbled more than 16 percent to the $9.50 range, down from yesterday’s close of $11.38.
Moscom first announced plans to spin off the Votan Corp. unit in June. The IPO initially was expected to raise $15 million for each company.
In August, citing the IPO market’s volatility, Moscom postponed taking Votan public until late September or early October.
Today, the company pulled the plug completely, saying that the value being placed on Votan by the market was inadequate and did not reflect Votan’s full potential. Votan will continue to operate as a subsidiary of Moscom.
Based in Pleasanton, Calif., Votan has developed technologies used in voice-verification and speech-recognition products.

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