Metron Seeks $57.5 Million IPO
WASHINGTON (Reuters) - Metron Technology N.V., a Dutch
holding company and supplier of products, service and
equipment to semiconducter manufacturers, filed to raise up
to $57.5 million in a U.S. initial public offering.
The firm provides companies in the United States and
overseas like Motorola Inc. (NYSE:MOT - news), Intel Corp.
(Nasdaq:INTC - news), and Lucent Technologies Inc. (NYSE:LU
- news), among others, with materials to manufacture
semiconductors as well as sales, marketing and service
assistance.
With $228 million in net revenue in the fiscal year ending
May 31, 1999, Metron posted $4.5 million in net losses for
that period, according to the company's preliminary
prospectus filed with the Securities and Exchange Commission
late Thursday.
The bulk of the company's revenue comes from the sales of
materials, equipment, services, and spare parts to the
semiconductor industry as well as from commissions on sales
of equipment and materials, according to the filing.
Metron said it plans to use the proceeds from the IPO for
working capital and general corporate purposes, including
sales, marketing, customer support and other activities. The
funds may also be used for possible acquisitions, the
filing said.
The company, which was founded in 1975 in Europe and now has
its corporate headquarters in Burlingame, Calif., disclosed
neither the number of shares it plans to sell nor the
estimated price range. But the company will likely
reveal those details in subsequent filings with the SEC.
Edward Segal, 59, has been the company's president and chief
executive officer since July 1995 and previously was
president and CEO of Transpacific Technology Corp., a
company he founded in 1982.
Entegris Inc. and FSI International Inc. (Nasdaq:FSII -
news) both hold 32.8 percent stakes in Metron, the filing
showed.
The underwriters include Banc of America Securities LLC, SG
Cowen, and U.S. Bancorp Piper Jaffray.
The $57.5 million figure cited in the filing was merely a
basis for calculating the SEC registration fee, the company
said. Metron has applied to sell its shares on Nasdaq under
the symbol ``MTCH.' |
