The head of BlackBerry Ltd. is hoping for a June timing on the initial public offering planned for its Internet of Things (IoT) business.
The forthcoming IPO will split BlackBerry into two business units, separating its cybersecurity operations from its IoT offerings.
The technology company, based in Waterloo, Ontario, has been exploring various strategic options to enhance shareholder value since May.
The company reported a loss of US$42 million in the second quarter of its 2024 fiscal year. IoT revenue increased by four percent while cybersecurity revenue dropped by 40 percent.
During an investor briefing, John Chen mentioned that he aims for a June IPO to avoid the summer season when people are on vacation. He also wants to avoid September, which he considers a challenging month for the stock market due to people’s shift in mindset after returning from vacation.
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