A Silicon Valley specialist semiconductor manufacturing firm will test the appetite of Australian investors for high-technology stocks from next Monday, after locking in a $53.5 million initial public offering on the Australian Securities Exchange.
Pivotal Systems is majority owned by US venture capital fund Firsthand Technology Value Fund, with Anzu Partners among the backers on its books, but it has elected to become a rare tech manufacturer on the local boards, where it is due to list with a notional market cap of $233.5 million.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
