IPO date for Fitbit is coming very soon

The manufacturer of the popular Fitbit fitness bracelets could become a public company with an initial public offering on the New York Stock Exchange on 18 June, according to official information provided from NASDAQ.

Although making this step, the company faces a great challenge by a competitor in connection with patent issues and other problems.

In the last two weeks of the competitors of Fitbit - Jawbone - threatened the company with two lawsuits claiming patent infringement in so-called wearable technology.

According to market research company IDC Fitbit is a leader in business wireless-enabled wearable devices that measure data such as the numbers of steps walked, quality of sleep and other personal metrics, while Jawbone is in fifth place.

According to the registration of the company that was made earlier this month, Fitbit plans to release 22.4 million shares in a price range of 14-16 dollars per share, which would bring her 358 million dollars.

The company expects the current shareholders to sell nearly 7.5 million shares in addition to issued by Fitbit.

Fitbit has proved to be a profitable company, having increased more than double its revenue - from 271.1 million dollars in 2013 to 745.5 million in 2014, taking into account a profit of 131.8 million dollars last year.

The company’s trading symbol will be “FIT”.