IMI’s German subsidiary applies for NYSE IPO

MANILA, Philippines ? Ayala-led Integrated Micro-electronics (IMI)’s German subsidiary VIA optronics AG has filed an application for a $100-million initial public offering (IPO) with the New York Stock Exchange.

VIA will offer American Depositary Shares (ADSs) representing ordinary shares in the capital of the company.

“The number of ordinary shares to be represented by each ADS, the number of ADS to be offered and the price range for the proposed offering have not yet been determined. The company has applied to list its ADSs on the New York Stock Exchange under the ticker symbol VIAO,” IMI disclosed to the local bourse yesterday.

In a separate disclosure in the US SEC as posted on Nasdaq.com, however, it said that VIA is looking to raise up to $100 million.

VIA is a 76 percent-owned German subsidiary of IMI.

The company has tapped Berenberg as sole bookrunning manager for the proposed offering.

VIA is a leading provider of enhanced display solutions for multiple end markets in which superior functionality or durability is a critical differentiating factor. Its customizable technology is well-suited for high-end markets with unique specifications, as well as demanding environments that pose technical and optical challenges for displays, such as bright ambient light, vibration and shock, extreme temperatures and condensation.

As a company, VIA provides enhanced display solutions that are built to meet the specific needs of its customers.

Its interactive display systems combine system design, interactive displays, software functionality, cameras and other hardware components.

Furthermore, according to its profile, VIA’s intellectual property portfolio, process know-how, and optical bonding and metal mesh touch sensor and camera module technologies provide enhanced display solutions that are built to meet the specific needs of its customers.

IMI, meanwhile, is a leading global technology and manufacturing solutions expert.

It is the manufacturing arm of AC Industrial Technology Holdings, Inc., a wholly-owned subsidiary of Ayala Corp. It ranks among the top 20 EMS providers in the world based on 2019 revenues (Manufacturing Market Insider).

In the automotive market, it is the sixth largest EMS provider in the world per New Venture Research.

IMI specializes in highly reliable and quality electronics for long product life cycle segments such as automotive, industrial electronics and more recently, the aerospace market.

At present, the company has 22 manufacturing plants across 10 different countries, providing engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally.