WizCom Ltd, the Israeli company that developed a pen-shaped translating hand-held scanner called Quicktionary, has submitted a draft prospectus to issue shares on Wall Street. Details of the prospectus have not been released but sources expect the company to try to raise $25m-$30m based on a total valuation of approximately $150m. Last year the company made a loss of $4m although Quicktionary only started to sell in significant numbers in the second half of the year. The company is expected to be profitable this year following high demand in European and US markets. The company is 39% owned by Lipman and is listed on the TASE. Other shareholders include Mivtach Shamir (TASE) and the Oppenheimer bank in the US.
