Latino Web portal files for IPO

El Sitio to offer 9.4 million shares

MIAMI — Latino Internet portal El Sitio has filed with the SEC for an initial public offering.

Headquartered in Buenos Aires, El Sitio plans to offer up to 9.4 million shares on the Nasdaq exchange.

Founded in 1997 in Argentina, the Spanish- and Portuguese-lingo portal has 490,000 registered users and offers regional and localized content in Argentina, Brazil, Mexico, and Uruguay. It also has local sites in seven U.S. cities and San Juan, Puerto Rico.

El Sitio plans to launch in Chile, Colombia and Venezuela next year.

Ibero-American Media Partners, a private $500 million investment fund backed by Hicks, Muse, Tate & Furst and the Cisneros Group, owns a stake in El Sitio.

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