OCZ Technology, a leading supplier of high-performance memory modules that aim enthusiasts and performance-minded customers, is set to go public shortly in a bid to raise additional funds and become more aggressive on the market, something, which may significantly solidify positions of the company in the market of high-speed memory modules.
Sources close to the company confirmed that the initial public offering (IPO) is expected to be about $18 million and the post IPO capitalization is projected to be approximately $71 million. One of the sources said that the offering should take place in the following several weeks and added that “the money from the IPO will allow be more aggressive in the market”.
According to Financial Times, OCZ’s first-quarter revenues, historically the weakest quarter of the year, jumped 110% compared with the same period in 2004, whereas 2005 revenues were up 77% annually.
OCZ Technology, already a major supplier of memory modules in the
AIM is specifically tailored to growing businesses and combines the benefits of a public quotation with a flexible regulatory approach. AIM gives companies from all countries and sectors access to the market at an earlier stage of their development, allowing them to experience life as a public company. Since AIM opened in 1995, more than 2200 companies have been admitted and more than Ј24 billion has been raised collectively.
OCZ Technology did not comment on the news-story.