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Dynabook planning IPO: Reuters
Posted on Tuesday, 09 July 2019 12:27
Japanese electronics player Sharp is planning to list its Dynabook laptop manufacturing unit, according to Reuters.
Without identifying its sources, the news provider said the company aims to float during fiscal year 2021.
No further details have been disclosed at this time.
Sharp has owned Dynabook since October 2018, having bought the business as part of its purchase of an 80.1 per cent stake in Toshiba Client Solutions.
That deal was worth JPY 4.01 billion (USD 36.85 million). Following completion, Toshiba retained the remaining 19.9 per cent share of the unit.
Toshiba’s former PC business was rebranded as Dynabook earlier this year.
According to Zephyr, the M&A database published by Bureau van Dijk, there has only been one initial public offering announced by an electronic computer manufacturer announced worldwide since the beginning of 2019.
That deal saw China-headquartered Visionvera Information Technology unveiling plans to float on the Shanghai Stock Exchange Sci-Tech Innovation Board back in April.
The company expects to raise around CNY 1.83 billion (USD 265.78 million) from the listing, which is subject to approvals from the Shanghai Stock Exchange and the China Securities Regulatory Commission.
Zephyr shows the largest IPO on record by an electronic computer manufacturer was announced in March 2000, when Palm, best known as the designer of the PalmPilot, went public on Nasdaq, raising USD 874.00 million in the process.
This was followed by February 2007’s USD 402.00 million listing on the RTS, Moscow Stock Exchange and London Stock Exchange by Russia-based Sitroniks.
Other companies in the sector to have gone public over the years include Santa Clara-headquartered Nutanix, Palo Alto-based Handspring and Chinese player Shenzhen Hasee Computer.
© Zephus Ltd