Germany's Congatec Files For $60 Mln IPO - Quick Facts

(RTTNews) - Congatec Holding AG, a German stock corporation, has filed with the U.S. Securities and Exchange Commission, for an initial public offering of up to $60 million of its American Depositary Shares.

Congatec, a provider of embedded computing solutions, has applied to list its ADSs on the NASDAQ Global Market under the symbol "CONG."

For the fiscal year ended December 31, 2014, the company recorded revenue of $85.0 million and net income of $3.6 million.

The company intends to use the net proceeds of this offering to expand its operations in the United States and Asia and for other general corporate purposes.

The company disclosed in the filing that its competitors include ADLink, Advantech, Kontron (KOTRF.PK), MSC Technologies, Portwell, SECO and Technexion.