Spreadtrum Communications (SPRD-NASDAQ), priced its 8.9 million share IPO of ADR’s at $14.00. This was above the range of $11.00 to $13.00 and above the original 8.8 million shares expected. Morgan Stanley, Lehman Brothers, Needham & Co. and Piper Jaffray & Co. are underwriting the offering.
Spreadtrum is a Shanghai-based R&D chip company that makes wireless baseband processors for the wireless communications market. In 2006, Spreadtrum reported earnings of $14.4 million on sales of $107.1 million.
Jon C. Ogg
June 26, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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