potential new investor looking for info, page-2

what a good question

icq ipo'd with ipp as 3rd largest shareholder, but the indonesian publishing group who had the original business retained 51% and the portals were already being promoted as the No 1 portal in ASEAN area - so the likely story is the indonesians wanted to float their business but wanted it done by people with a track record of successfully listing and managing an asx company.

lets face it - asx investors would probably struggle to back an unknown unproven indonesian management team initially.

they would have discussed with the chair of ipp - who agreed to coinvest to float it and then oversee.

so ipp and icq are independent companies but backed by some shared backers and supported using shared back office/compliance where possible to lower costs and for concistency of apporach. this is why - for eg - the company secretary is the same

its the model used by perth mining houses to float junior miners.

worth nothing that the executive teams are different - its the board and support teams that share similarities.

so independent companies but with a coinvestment that it looks like ipp will gradually reduce over time.