N-trig, an Israeli provider of digital pens and chips for touch screens, has submitted a prospectus for an initial public offering on the Tel Aviv Stock Exchange, the company said on Sunday.
The company is seeking to raise about $20 million but details of the offering were not published. It was valued at $75 million when it last raised money privately in February.
N-trig had revenue of $36.7 million in 2013, up 38 percent from 2012. It said revenue totalled $20.6 million in the first half of 2014, when it sold 1.3 million digital pens, more than three times the amount it sold in the same period of 2013.
It had a gross profit margin of 40 percent in 2013 after it changed its business model in 2011 to focus on selling chips for touch screens and digital pens. Its operating loss in 2013 halved to $7.8 million and N-trig posted an operating loss of $5.1 million for the first half of 2014.
Microsoft Corp, which owns 6.1 percent of the company, signed a deal this year to integrate N-trig' s pen in its Surface Pro 3 tablets.
Other investors in the company include Evergreen Venture Partners, Canaan Partners and Tamares.
N-trig customers for its technology include Sony, Fujitsu, Hewlett-Packard and Lenovo for use in smartphones, tablets and ultrabooks.
Israeli investment bank Leader is leading the offering.
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