Worldspace Inc.‘s initial public offering (IPO) will consist of 8.8 million shares with an estimated price range of $16 to $18 per share, according to a June 27 filing with the U.S. Securities and Exchange Commission.

Worldspace plans to list its shares on the Nasdaq National Market under the symbol WRSP. The company intends to use proceeds from the IPO to launch its business in India; for business development activities in China, Western Europe and other markets; and for general expenses.

Worldspace lost $9.3 million dollars on revenue of $2.6 million in its 2005 first quarter, the company said in the filing.