Monday, July 27, 2015
Vizio Files For IPO
Irvine-based consumer electronics giant Vizio has filed for an IPO, saying in a filing Friday that it is looking to raise up to $172.5M in a public offering. The company says it has filed to trade as VZIO, but has yet to select an exchange. The IPO is being underwritten by BofA Merrill Lynch, Deutsche Bank Securities, Citigroup, BMO Capital Markets, Piper Jaffray, Wells Fargo Securities, and Roth Capital Partners. Vizio's major owners are founder William Wang (54.7 percent of the company), along with Taiwanese companies AmTRAN Technology (20.4%), Q-Run Holdings (8.3%), and La Jolla-based V-TW Holdings (7.7%). Vizio reported net income of $44.9M on $3.1 billion in net sales for 2014. Vizio makes HDTVs and a long list of other consumer electronic items.