Kenfil Seeks to Raise $33 Million in Offering

Kenfil Inc., a leading distributor of computer software, said it hopes to raise up to $33 million with an initial public stock offering.

In a filing with the Securities and Exchange Commission, the Van Nuys-based company said it plans to offer 3 million common shares at an expected price of $9 to $11 a share. The sale’s proceeds would be used to repay debt and for working capital.

Kenfil, which was founded in 1983, said it carries more than 3,500 software titles from more than 170 publishers, which it sells to computer stores, mail-order companies, mass merchants and corporate software resellers.

In its fiscal year that ended June 30, Kenfil lost $2 million on sales of $133.2 million, largely because of debt costs and other expenses related to a financial restructuring.