Reuters citing peoples familiar with the matter has reported on last Friday that for its own financial equilibrium, Integrated Micro-Electronics (IMI) has been seeking a floatation of it subsidiary Via Optronics in United States stock market.
Via Optronics is a German based maker of mobile phone parts whereas its owner Integrated Micro-Electronics (IMI) is Philippine origin. In 2016, for 47.4 million Euros ($53.736 million), 76 percent of the stake in Via Optronics was bought by IMI, leaving the 24 percent ownership with the founder Juergem Eichner.
To enhance the displays of tablets and mobile phones the material, used to make those displays screens stronger and less reflective, has been made by the Via Optronics.
Reportedly, with not yet known clear exact timing of the deal, mostly depending upon the position of the capital market, IPO has been likely to be effected in second half of 2019.
As underwriters, at least two of the U.S. banks have been hired by the Via Optronics for the IPO and Citigroup Inc. is one of those two, sources added. About the worth of the company, so far there are no learnt sources knowing the company’s expectation for its valuation.
For the U.S. IPO market, this year has been proving to be stellar one, especially when investors are particularly looking for new companies. Investors, by looking away from a so called group of stocks comprising big giants Facebook (FB.O), Amazon.com (AMZN.O), Netflix (NFLX.O) and Google-parent Alphabet (GOOGL.O), are looking for new public tech companies for high growth rates.
Because of the large numbers of peers listed on the exchanges in other locations or countries, for gaining comparatively higher valuations, New York, for homing Nasdaq and New York Stock Exchange, is known as hub for such technology floatation with international IPO.