Belgian 3D printing company Materialise has filed for an initial public offering (IPO) of American Depositary Shares with US regulators.
The Belgian 3D printing community, software provider and service bureau filed with SEC yesterday (April 2nd) to raise up to $125 million.
Starting life in 1990 as the first rapid prototyping service bureau in the BeNeLux region, Materialise has since provided some 8,000 3D printing software licences to more than 4,000 customers including big-name firms such as Ford Motor Co, Boeing and Airbus. Materialise also supports the successful 3D printing community i.materialise, which is aimed at the growing maker and consumer 3D printing sphere.
Materialise's decision to go public is following in the footsteps of fellow 3D printing giants voxeljet, ExOne, 3D Systems and Stratasys, adding to what is becoming a growing tech stocks sub-group that is becoming popular with investors. Indeed, Reuters reported that German 3D printer manufacturer voxeljet's shares have more than doubled since their market debut in October 2013.
Materialise's growth trajectory will appeal to investors. Its revenues rose by 16 per cent to €68.7 million ($95 million, £57 million) in 2013.
The company stated that it plans to use proceeds from its offering to expand its operations and as acknowledged that the final size of its IPO may not be exactly $125 million. The IPO's lead underwriters are Credit Suisse and Piper Jaffray and no pricing terms have been disclosed.