IPO Watch: Nanoveu is raising $6m to put 3D on your phone without the glasses
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Perth-based tech company Nanoveu has launched a $6 million initial public offering to put 3D images on phones — without the glasses.
Nanoveu has been working for more than five years on high-tech screen protectors called EyeFly3D that may one day broadcast The Bachelor in 3D without the need for 3D glasses.
Nanoveu, which incorporated in February to acquire the technology and list on the ASX, plans to raise $4.5 million to $6 million selling shares at 20c each.
The money will go towards product development and sales and marketing.
EyeFly3D is a nano-imprinted screen protector for mobile devices that allow users to view 3D images, videos and games on the go.
It’s used in conjunction with an app that enables users to convert 2D images and videos into 3D.
EyeFyx is in development.
Its proof of concept shows that a nano-imprint technology can be used to produce a thin film which, when applied to a digital screen, enables people to read digital displays without glasses.
The company has since started working on a prototype.
Alfred Chong, the company’s founder, executive chairman and CEO, is also its majority shareholder. He stands to gain 42.7 million shares and 200,000 performance rights along with a $229,500 salary.
On listing there will be up to 133 million shares and 2.1 million options.
Mr Chong’s fellow three directors will be paid $229,680.
Nanoveu is aiming to list on November 1 under the code NVU. At its issue price, the company would be valued at up to $26.5 million.
The offer is open from September 7 to October 19 and is being managed by Collins Street and First Guardian. You can view the prospectus here.