September 6, 2019 / 2:41 PM / 3 months ago

German computer modules supplier Congatec plans Frankfurt IPO - sources

FRANKFURT (Reuters) - German industrial computer modules supplier Congatec is preparing a Frankfurt stock market flotation to raise funds for its expansion, people close to the matter said.

The firm could announce the deal, which may raise up to 100 million euros, later this month, the sources said, adding that the timing depended on market conditions.

Congatec’s customers are in the industrial automation, medical, entertainment, transportation, telecommunication and test and measurement industries.

The company was founded in 2004, employs 280 staff and counts Intel (INTC.O), NXP (NXPI.O) and AMD (AMD.O) as technology alliance partners.

Congatec declined to comment.

Reporting by Alexander Huebner, Arno Schuetze and Hans Seidenstuecker; Editing by Thomas Seythal

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