Circuits Assembly Online Magazine - Valor IPO Could Bring $80M

YAVNE, ISRAEL – Software provider Valor Computerized Systems plans an initial public offering of ordinary shares, according to a Securities and Exchange Commission filing.

The company did not disclose the expected size or price range of the IPO, but indicated the planned March offering may net up to $80.5 million.

The company plans to offer $50 million of shares, while shareholders will make an offer to sell of up to an additional $20 million of their shares and underwriters will be granted options for an additional $10.5 million worth of shares.

For the nine months ended Sept. 30, Valor's earnings were $2.2 million on revenue of $31.4 million.

Valor, currently traded on the Frankfurt Exchange, said its new symbol will be "VLOR."