RealD raises $200 from t he IPO
July 19, 2010
Source: MM Network
By: Media Mughals
RealD Inc., the leading global licensor of stereoscopic 3D technologies, has raised 33% more than the expectations from its recently concluded initial public offer (IPO).
The Company got listed on the New York Stock Exchange (NYSE) this Friday, 16 July 2010, being the first company dealing in licensing 3D technology to go public.
RealD has raised an amount of $200 million by sale of 12.5 million shares at $16 each. The company originally planned to put on offer 10.75 million shares for $13 to $15 each.
For RealD’s IPO, J.P. Morgan Securities and Piper Jaffray & Co. acted as joint book-running managers and William Blair & Company acted as co-lead manager.
RealD’s technology received a big push recently with the success of the 3D movie as Avatar, which has kicked off a new revolution for the 3D technology globally. Currently around 10,000 movie screens are 3D enabled globally and more than 5,000 make use of RealD technology. |