$75 million IPO by 3D printer manufacturer
Objet, the inkjet-based 3D printing systems manufacturer has filed for a $75 million initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).
The company plans to list under NASDAQ with the symbol OBJT. The bookkeeping job would be jointly handled by J.P Morgan and Goldman Sachs.
2011 was a particularly good year for Objet. Revenues of the company increased by 38% to $121 million and the net income rose 42% to %15 million during the year. The number of 3D printers that Objet sold during the year increased by 63%, indicating the increasing demand of printers that add the third dimension to their printing.
The printers Objet provides are used for prototyping and custom manufacturing. Over 2,800 customers from a variety of industries use 3D printers that the Rehovot, Israel-based company manufactures. Some of the clients of Objet are Volkswagen, Black and Decker, Boston Scientific and Adidas.
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