- $000001-SHG 3,308.346 -12.266
- IDC 26.00 -0.29
- $399005-SHE 5,521.601 1.936
- $399106-SHE 1,208.824 6.12
- $000010-SHG 7,923.153 -37.246
News Story
TeleNav Files For IPO
Monday November 02, 2009 09:39:00 EST
(RTTNews) - TeleNav, Inc. announced that its wholly owned subsidiary, TNAV Holdings, Inc., filed a registration statement on October 30, 2009 with the Securities and Exchange Commission, relating to a proposed initial public offering of TeleNav's common stock.
TeleNav said it intends to merge with and into TNAV Holdings prior to the offering and the surviving company will be renamed TeleNav, Inc.
Sunnyvale, California-based TeleNav is a provider of location based services, including voice guided navigation, on mobile phones.
The company said that the number of shares to be offered and the price range for the offering have not yet been determined.
J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. are acting as joint book-runners, with Robert W. Baird & Co. Incorporated, Canaccord Adams Inc., Piper Jaffray & Co. and Pacific Crest Securities Inc. as co-managers for the offering.
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