Internet company Mega plans New Zealand listing

Print
Email
|

Associated Press

Posted on March 24, 2014 at 11:02 PM

Updated Tuesday, Mar 25 at 12:04 AM

WELLINGTON, New Zealand (AP) — Mega Ltd., the Internet file-storage company launched last year by indicted entrepreneur Kim Dotcom, has announced plans to go public.

The company plans to list on the New Zealand stock market, according to documents filed with the market Tuesday. Mega plans to achieve the listing through a maneuver known as a reverse takeover of listed company TRS Investments.

Dotcom previously founded file-sharing site Megaupload, which U.S. prosecutors shut down in 2012. Prosecutors accuse Dotcom and colleagues of racketeering by facilitating the widespread illegal downloading of songs and movies. Dotcom argues he can't be held responsible for those who chose to use his site for illegitimate purposes.

Dotcom stepped down as a Mega director in August. His wife Mona Dotcom continues to own 26.5 percent of the company through a trust.

Print
Email
|