Acer Labs Inc, the Taiwanese provider of core logic chipsets and PC peripheral devices and subsidiary of the Acer Group Inc, has upwardly revised its financial forecast for the year. The company is now looking for revenue of $128m. Consequently, pre-tax profit projections have also been upped to $9m from an initial $4m, while net income is expected to be $10m, up from $6m previously.
The company also says it has received approval from the Securities and Futures Commission in Taiwan for its proposed initial public offering and will be officially listed on the Taiwan OTC market on September 13. The IPO will see 8.4 million shares sold at a price of $2.14 each. Acer Labs was founded in 1987 as an independent IC design house to provide products for the Acer Group as well as third parties. In 1993, it became independent from Acer Inc and became a member company of the Acer Group.
