Dotcom exit puts Baboom's A$4.5 mln pre-IPO offer on hold

Fri, 03 Oct 2014

By Paul McBeth Oct. 3 (BusinessDesk) - Internet entrepreneur Kim Dotcom's exit from the share register of online music service Baboom has put plans to raise A$4.5 million in a pre-float offer on hold. Dotcom's family trust, Coatsville Trustee Services, sold its 45 percent stake in the music business to fellow shareholder Vig Ltd, taking Michael Sorensen's ownership to 90 percent. That change of ownership has stalled plans to raise money ahead of a prospective initial public offer of between $3 million and $4 million while it revises its o...

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