The issue will be held at a company value of $90-100 million. Visonic posted $52.9 million revenue in 2003.
Visonic Group, a developer of home security and home control systems, plans to raise $20-25 million on the London Stock Exchange, at a company value of $90-100 million.
Visonic was founded 30 years ago by chairman Yaacov Kotlicki and his late brother, Moshe. The company posted a profit of $4.2 million on $52.9 million in revenue in 2003, compared with a profit of $2.7 million on $45.2 million in revenue in 2002.
The issue will be held in the coming weeks, and accompanied by investment bank Dawnay Day and brokerage Durlacher.
Published by Globes [online] - www.globes.co.il - on February 29, 2004