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The Boston Globe

Business

MASS. MOVERS

IPG selling up to 3 million shares

Essdras M Suarez/Globe Staff/File

Valentin Gapontsev is chief executive of IPG.

IPG Photonics said it has begun a public offering of up to 3 million shares of its common stock. The Oxford company manufactures high-performance fiber lasers and amplifiers for medical and industrial uses. It plans to use the net proceeds of the offering for general corporate purposes and to fund capital expenditures and working capital requirements. IPG may also use some of the net proceeds for acquisitions of complementary businesses and technologies, although no such acquisitions are currently pending, the company said in a statement.

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