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Via Optronics moving towards US IPO
Posted on Monday, 03 December 2018 13:21
Germany-based mobile phone components maker Via Optronics is preparing to conduct an initial public offering (IPO) in the US, according to Reuters.
Citing people with knowledge of the matter, the news provider said the company has appointed Citigroup, among other US banks, to advise on the process and could float during the second quarter of 2019.
However, they cautioned that this date would depend on market conditions and may change.
None of the companies involved have commented on the report and the sources did not wish to be identified as the matter is private.
There have been 22 IPOs announced by German companies since the beginning of 2018, according to Zephyr, the M&A database published by Bureau van Dijk, with the largest of these involving Siemens Healthineers floating in Frankfurt and raising EUR 4.20 billion in the process.
This was followed by motor vehicle brakes maker Knorr-Bremse, which listed on the same exchange in a deal worth EUR 2.80 billion.
Other companies based in the country which have announced IPOs this year include DWS Group, Dermapharm, Godewind Immobilien and Home24.
Via Optronics was established in 2005 and now employs around 700 people worldwide while operating manufacturing sites throughout Europe and in China.
The company’s output includes optical bonding materials and LCD system technology; it also provides technology licencing services.
It has taken to the acquisition trail this year, having agreed to pay an undisclosed consideration to pick up a 65.0 per cent shareholding in Japanese copper-based metal mesh touch sensors manufacturer Toppan Touch Panel Products from Toppan Printing back in April.
Prior to that deal, the firm was itself acquired in September 2016, when Philippines-based semiconductor maker Integrated Micro-Electronics took it over for EUR 47.80 million.
© Zephus Ltd