Vtion Wireless Technology aims to raise 100 mln eur in German IPO

FRANKFURT (Thomson Financial) - Vtion Wireless Technology, the Chinese chipmaker that is preparing an initial public offering in Germany, said it aims to issue shares worth up to 100 mln eur to finance its growth and to bolster research and development.
Vtion, whose microchips enable Internet applications on mobile phones, had previously reported it plans to issue 5.077 mln shares, of which 4.0 mln will be new ones and remainder will be put on offer by its current owners.
The offer price will be determined in a book building process.
The offer period will run from Nov 23 through Nov 28 and the first day of trading is planned for Nov 30.
The price span is yet to be disclosed, the company said.
ludwig.burger@thomson.com
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Source: forbes.com