VIA Optronics prices IPO at low end of expectations, raises $93.8 million

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VIA Optronics AG’s initial public offering priced at $15 per American depositary share, which was at the low end of the expected range of $15 to $17 per ADS. The Germany-based provider of interactive displays said late early Friday that it sold 6.25 million ADS in the IPO to raise $93.8 million. With 7.57 million ADS outstanding after the IPO, the pricing valued that company at $113.5 million. Berenberg was the sole book-running manager. The stock is expected to begin trading Friday on the NYSE under the ticker symbol “VIAO.” The company is going public at a time that the Renaissance IPO ETF has rallied 58.7% year to date, while the S&P 500 has gained 0.5%.
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