OTTAWA, CANADA. November 30th 2015. FrameFlow announced today their plans to become a publicly traded company.
The company plans an initial offering of 100 million shares with a starting price of $6000 per share which, if successful, will set a market value of $600 billion. This would place it just above Google’s current market valuation and some analysts are suggesting that FrameFlow’s end goal may be another hostile takeover bid for Google or maybe some other target.
That said, some Wall Street executives have expressed doubts about FrameFlow’s strategy.
First, there’s the unusual move of going public not on Nasdaq or New York Stock Exchange but on the Cambodian stock exchange which happens to be the smallest exchange in the world. Even with a market cap half of the size of what FrameFlow is proposing it would dwarf the estimated total of $80 million which the Cambodian market currently handles.
A second practical matter has to do with the size of the valuation. Although so called “unicorns” have been in the news frequently in recent months, an opening valuation of $600 billion far exceeds the traditional $1 billion valuation that has so far defined the term.
During interviews press officials shared these concerns with FrameFlow officials, who did not seem perturbed. FrameFlow acknowledged that the Cambodian market was an unusual move but a necessary one. It appears that their bid to join the NYSE was dropped after talks with several US investment banking firms fell though. The FrameFlow story is however at odds with Goldman Sachs’ version of the story. According to them there were no formal talks and FrameFlow officials had to be forcibly removed from the lobby after trying various ruses to get in, including shouting “OMG! Apple shares just dropped 30%!” and trying slip past security in the ensuing mayhem.
Other press officials questioned why previous FrameFlow press releases quoted various stock prices and seemed to imply a valid listing on the Nasdaq exchange. FrameFlow officials at first denied any knowledge of this but later their media relations officer, recently hired away from Volkswagen Automotive, attributed it to “an administrative error by a handful of employees who have since been reprimanded.”
If the public offering is successful FrameFlow’s official symbol on the Cambodian Stock Exchange will be CSX:FRMFLOW.
More from FrameFlow Newswire: Server Monitoring Newsletter