Scitex is planning to float Vio in Europe fairly soon but the company has not yet chosen an underwriter,” said the Israeli source, who asked not to be named.
Tuesday April 4, 5:15 am Eastern Time SCITEX IS PLANNING EUROPEAN OFFERING FOR VIO TEL AVIV, April 4 (Reuters) – Israel’s Scitex Corp is planning a European public offering for Vio Worldwide Ltd, its 50-50 joint venture with British Telecom (quote from Yahoo! UK & Ireland: BT.L), an industry source said on Tuesday. “Scitex is planning to float Vio in Europe fairly soon but the company has not yet chosen an underwriter,” said the Israeli source, who asked not to be named. The source could not say in which European market Vio would be floated. Vio develops Internet and telecom services for the printing industry. Israeli daily Yedioth Ahronoth said Vio would be valued at over $500 million for the offering. A spokeswoman for Scitex refused to confirm or deny the report but said the company’s management has said that as part of its strategy it would seek to increase the value of its subsidiaries by raising capital or through investments.
