Powerlan: The time is right for reseller IPOs

Powerlan: The time is right for reseller IPOs

Just days after Powerlan closed its oversubscribed public share offer, the company's CEO believes the market is ready for more reseller IPOs.

Theo Baker told ARN that profit-driven channel companies stand a good chance of success on the stock market against growing investor rejection of over-hyped Internet companies.

"The opportunity is now," Baker said.

He said Powerlan's own share offer, which closed last Friday, was oversubscribed multiple times.

"It came to the point that with any new applicants we had to say the deal is done," Baker said.

The company has received initial requests from a good mix of institutional and public investors, he said.

However, many of the investors will be limited to the minimum amount of 2000 shares at $1 each because of the demand, Baker said.

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