Montreal: Discreet Logic, a highly successful proprietary developer and distributor of digital post-production and special-effects systems, including Flint and Flame, has launched an initial public share offering worth up to us$46 million.

In documents filed with the u.s. Security Exchange Commission, the Montreal-based company says it plans to offer 2.75 million common shares in the us$15 to us$17 price range. The new funds will be used for operations and possible acquisitions, says the ipo filing.

The u.s. underwriters are Adams Harkness and Hill and Volpe Welty and Company.

The increased use of special effects in all kinds of theatrical and tv productions has fueled demand for Discreet Logic systems like Flint and Flame, used for compositing, editing and the design and production of f/x. LRB