CommTouch, an Israeli developer of web email software, has submitted a quiet prospectus to the US Securities Exchange, in advance of a Wall Street listing that is expected to value the company at $300m. The filing is a toe-in-the-water exercise, which allows CommTouch to gauge market interest before fully declaring issue figures, and it can withdraw from the issue process at any time. However, if it does come to market, it is expected to raise between $50m and $70m from an issue of 20% of its shares.
