Coherent Sets IPO for Lambda Physik

SANTA CLARA, Calif., Aug. 29 -- Coherent Inc. will set up an initial public offering during September and October for its 80 percent interest in Lambda Physik AG. The income from the offering will be invested in new technologies, plant and equipment expansion, and additional personnel for the growing deep ultraviolet lithography portion of Lambda Physik's business.
The new issue will be traded as the symbol LPX on the Neuer Markt-the growth market for German equities in Frankfurt, Germany. Coherent will remain the majority shareholder in Lambda Physik after the offering with a 60 percent holding, the company said.
Lambda Physik manufactures high-power, pulsed-UV and tunable laser sources for lithographic, industrial, scientific and medical applications.