OLED company files for initial public offering

Cambridge Display Technology, a developer of next-generation screens for consumer electronics devices, has filed for an initial public offering with the Securities and Exchange Commission.

Cambridge, England-based CDT filed late last week the basic IPO registration paperwork, a Form S-1. The company intends to use the net proceeds from the sale of shares for general corporate uses, such as working capital and expenditures. The company may also use a portion to acquire businesses, technologies or other assets or to repay any debt.

CDT is competing with Eastman Kodak in the market for a next generation display technology called organic light emitting diode screens. Because OLEDs don't require a backlight, they consume less power and can result in thinner displays than liquid crystal displays, the current favorite. Materials in an OLED display emit light when an electrical current is applied.

News source: C|Net News.com

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