U.S. consumer electronics firm Vizio files for IPO
Consumer electronics company Vizio Inc filed with U.S. regulators on Friday to raise up to $172.5 million in an initial public offering of Class A common stock.
BofA Merrill Lynch, Deutsche Bank Securities and Citigroup are among the underwriters of the IPO, Vizio told the U.S Securities and Exchange Commission in a preliminary prospectus. (1.usa.gov/1emHo88)
The Irvine, California-based company makes affordable flat screen televisions and audio/video equipment such as high-definition surround sound systems, LCD monitors and HDTV accessories.
The filing did not reveal how many shares the company planned to sell or their expected price.
The company intends to list its Class A common stock under the symbol “VZIO”.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting by Krishna Chaithanya in Bengaluru; Editing by Maju Samuel)