ViewSonic Corp. plans to raise as much as $143.8 million in an initial public offering as the maker of computer monitors and televisions benefits from the adoption of flat screens.
The number of shares in the offering and their price haven't been determined, according to a regulatory filing from the Walnut, California-based company, which was founded in 1987. Proceeds may be used for marketing, acquisitions and the repayment of $43 million owed to Chief Executive Officer and founder James Chu and his wife Lily.
ViewSonic's shipments of liquid-crystal displays rose 81 percent to 6 million last year as more buyers abandoned cathode-ray tubes in favor of flat screens. The company reported a profit of $24.1 million, or 7 cents a share, last year, compared with a loss of $9.9 million, or 3 cents, in 2005. Sales rose 32 percent to $1.59 billion.
The company said it's ranked sixth worldwide in LCD monitor shipments, citing the research firm DisplaySearch. ViewSonic sells into a market that will generate total revenue of $135.5 billion by 2009, from $98.6 billion in 2006, according to the filing.
The company plans to list the shares under the ticker ``VIEW'' on the Nasdaq Stock Market.
The underwriters of the offering will be JPMorgan Securities Inc. and Banc of America Securities LLC. Thomas Weisel Partners LLC and Needham & Company LLC will co-manage the share sale.
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