VIA optronics, a German provider of sunlight readable, ultrathin display and touch solutions, announced terms for its IPO on Monday.
The Nuremberg, Germany-based company plans to raise $100 million by offering 6.3 million ADSs at a price range of $15 to $17. The company plans to raise an additional $21 million in a concurrent private placement to commercial partner Corning. At the midpoint of the proposed range, VIA optronics would command a fully diluted market value of $361 million and an enterprise value of $282 million.
VIA optronics provides a wide range of customized display solutions, including curved display panels and solutions integrating multiple display touch assemblies under a single cover lens. Its customers operate across the automotive, consumer electronics, and industrial and specialized applications markets, and include companies such as BMW, Ferrari, Dell, HP, 3M, and Honeywell. The company currently has over 500 projects in process for a combination of existing and potential customers.
VIA optronics was founded in 2005 and booked $156 million in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol VIAO. Berenberg is the sole bookrunner on the deal.
The article German display solutions provider VIA optronics sets terms for $100 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
