Novaled files for IPO in the US, wants to raise $200 million

Update: Reports suggest that Novaled wants to raise $200 million. We do not know the valuation though. Novaled saw sales increase 154% to $23 million in 2011 - with the company's first net profit ($4 million).

Last week we reported that Novaled is ready for IPO, and today it is official: the company filed a registration statement on Form F-1 with the U.S. SEC for a proposed initial public offering (IPO). Novaled shares will list on the NASDAQ or at the NYSE. Goldman Sachs and Deutsche Bank Securities are acting as joint book-running managers for the offering. Canaccord Genuity, Commerzbank, Cowen and Company and JMP Securities are acting as co-managers. Novaled is currently backed by Venture capital (including a recent strategic investment from Samsung in late 2011).

Novaled 15x15 cm white OLED

Novaled's latest major financing round was in January 2009 (they raised $11.2 million back then). The company says that their 2010 revenue were €11.2 million - and this was supposed to double or more in 2011 (although we do not have official information from the company yet). The company's major client is Samsung. Novaled provides technology and materials (non-emissive) for OLED displays and lighting panels. The company also has a line of high-end OLED lighting lamps called the Liternity.

Back in March 2011 Ecosummit posted a couple of interesting Interviews - one with Novaled's CFO and the other with the company's Chief Scientist. Here's the CFO interview, which discusses their financial situation, technology and markets:

Posted: Mar 20,2012 by Ron Mertens