October 16, 2006
VC-backed Nanogate to float on German Exchange
Venture-backed Nanogate, a developer of surface coatings for the machinery and automotive industry, plans to raise about €15.5M this week on the Entry Standard, the lightly regulated German stock exchange, in an IPO. About €12M of that total should go to the company. The rest is for old shareholders. The IPO would value Nanogate at about €50M. the company is on track for about €6M a in sales this year and is profitable.
The figures are based on the floatation going out in the middle of the book building range.
The firm plans to invest in organic growth, but also to acquire complementary technologies. The seven year old company's backers include German private bankier, Sal. Oppenheim and the venture firms: Equinet Venture Partners und 3i. About 20 percent of the company is still owned by its founders, according to an earlier report by dowjones.
Read - Nanogate - Gewagte Vorhaben (goingpublic.de)
Read- Nanogate ( Dowjones)
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