Australian-based high technology company, Lake Technology has announced that it has
closed its initial public offering early and oversubscribed.
The offer, which opened on October 20 was scheduled to close on November 19.
Managing director Brian Conolly, said response to the public offer had been
strong.
“We’re very pleased at the strong interest which the company has attracted.
Institutional support in particular has been strong and that has been
particularly pleasing.”
“Lake Technology is a company which has built an international industry
reputation in developing high value-added DSP products and is now
successfully migrating the technology into consumer electronics in areas
such as Dolby Headphone (surround sound over headphones),” he said.
Allotment of shares is expected to take place by December 1 and share
trading on the ASX is expected to commence on December 6. The minimum
subscription of shares was 4,000.
Founded in early 1991, Lake Technology has established an international
industry reputation in advanced DSP applications, developing products for
leading researchers and multinational organisations in the fields of
communications, automotive acoustics, consumer audio, and acoustic
research.
The company currently has a portfolio of more than 30 filed patents and
patent applications in the DSP field, and plans to build on this portfolio
and the ownership of intellectual property as its dominant asset.
