Discreet Logic Inc, a Quebecois company that plans to relocate to Boston with its special visual effects software, plans to go public with an initial offering of 2.75m shares, 1.8m of them new, at a target price of $15 to $17 a share. The Canadian company’s systems were used to create special visual effects for Forrest Gump and rock videos for the Rolling Stones and Soundgarden, and the $25m or so net proceeds will be used for working capital and potential acquisitions. The underwriters will be Volpe, Welty & Co and Adams, Harkness & Hill Inc.
Silicon Valley Group Inc, San Jose chip fabrication equipment specialist, got its offer of 5m shares, 3.2m new, away at $28.875 per share, and wants the $88m or so net proceeds for purchases of capital equipment, working capital and research and development for its subsidiary SVG Lithography Systems Inc and its Track and Thermco divisions. The underwriters for the issue were Morgan Stanley & Co Inc, Prudential Securities Inc and Cowen & Co.
