Valencia IPO

Wall Street may have turned skittish about small tech stocks in recent weeks, but that isn’t stopping a Valencia manufacturer of CD-ROMs from going public.

Future Media Productions Inc. doesn’t develop software it masters, replicates and packages CD-ROMs for software producers like America Online Inc., Packard Bell NEC Inc. and Cendant Corp. Last week it filed for an initial public offering, underwritten by Prudential Securities, seeking a maximum of $50 million; prices and share amounts to be offered haven’t yet been determined.

Proceeds from the offering would be used to repay $18.5 million in bank debt, buy capital equipment, pay income taxes and for general corporate purposes, according to the filing.