The company did not disclose the expected size or price range of the IPO, but indicated the planned March offering may net up to $80.5 million.

The company plans to offer $50 million of shares, while shareholders will make an offer to sell of up to an additional $20 million of their shares and underwriters will be granted options for an additional $10.5 million worth of shares.

For the nine months ended Sept. 30, Valor's earnings were $2.2 million on revenue of $31.4 million.

Valor, currently traded on the Frankfurt Exchange, said its new symbol will be "VLOR."

As of Oct. 1, Japan’s second-largest technology company will officially assume the name Panasonic Corp., a nod to its global brand.

President Fumio Ohtsubo said the decision was difficult, but that the brand will benefit from shedding the original name for the better-known moniker.
 
The name change will become effective Oct. 1, pending shareholder approval.

Matsushita was founded in 1918 by then 23-year-old Konosuke Matsushita.