Omega Tender to Be Listed in Nasdaq
By Cho Jin-seo
Staff Reporter
Omega Tender, a high-tech firm with source technologies in wireless video networking systems, is to list its U.S. operation Omega World in the Nasdaq stock market as early as late this month, the company said.
Going public in the United States is a big step in the firm's globalization efforts and it also plans to list its shares on Korea's Kosdaq market soon, a company spokesman said.
Omega Tender specializes in teleconference and video meeting services using the Internet. The firm has expanded its operation to China and the Philippines as well, exporting its products and services and helping their government set up e-government systems.
``The public listings will help us expand our businesses,'' the spokesman said, adding it is waiting for the announcements from the U.S. Securities and Exchange Commission (SEC) and Nasdaq.
The listing of stocks will be in the form of a reverse acquisition. Omega Tender established Omega World in New York last year, and Omega World has recently purchased local firm Nevada Corporation, a publicly trading company in the country. The company didn't disclose the cost of the takeover.
Omega Tender is a leading patented platform provider that specializes in a number of multimedia services, such as video yellow pages, moving pictures short message systems, real-time moving pictures electronic payment systems, and videoconference maintenance technology.
It also boasts an innovative video mailing and videoconferencing system that operates on regular PCs without using expensive servers. Omega World is to provide technological solutions for governmental entities, businesses and individuals in the United States.
The firm has tried to make inroads into foreign markets for the past few years, forging a number of partnership contracts and sales deals in such countries as Vietnam, China and the Philippines.