Memory maker OCZ will go public in the UK on June 21 of this year, raising $65 million for investment into research and development and possible acquisitions, according to Tom’s Hardware Guide UK.
The IPO, which is being brokered by John East & Partners, will put a $27 million cap on the company, which will go under the ticker symbol OCZ, company CEO Ryan Petersen told Tom’s Hardware Guide UK in Taipei this morning. The company is aiming to use the money to grow its business by investing in a major R&D center in Taipei.
The company wants to extend its base in Asia and worldwide market share, with Petersen telling us that he aims to overtake Corsair in the memory business. The IPO will give OCZ the resources it needs to offer a much wider range of products and come out with more of what Patterson terms “really cool stuff.”
He also told Tom’s Hardware Guide UK that it is major investment banks and institutions that have bought stock at the IPO, and Petersen himself will hold 30% of the company; and employees around 10% – 15% with their stock options. The company is going public in London because “it’s a really good place for tech IPOs,” said Petersen. Of course, the fact that it costs two or three times to go public in the States versus the UK might have something to do with it.
The R&D facility is expected to be in operation by the end of the year, and Petersen hinted at acquisitions in around the same timeframe. “We’re always looking,” he said, in that you-bet sort of way.