Tronics launches IPO

January 29, 2015 //By Peter Clarke
As expected, Tronics Microsystems AS (Grenoble, France) has launched an initial public offering of shares in the company.

A price range of €10.80 to €13.20 per share has been set and the subscription period runs to February 9. The company, whose shares would be traded on the Alternext part of the Euronext market in Paris, plans to raise up to €12 million (about US$13.5 million) through the IPO.

The company's plan was tipped in an interview with CEO Langlois conducted by eeNews Europe in August 2014 (see French MEMS foundry preps IPO ).

France's Thales Group will subscribe for €6 million of the capital increase, a Reuters report said. The same report said Tronic expects to achieve 2018 revenues of €40 million (about $45 million), nearly four times Tronics' 2014 revenues of €11.6 million (about $13 million) in 2014.

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