Source: Renaissance Capital, Greenwich, CT (www.renaissancecapital.com).
Friday, April 8, 2011
Sequans Communications announces IPO terms
Sequans Communications S.A., a fabless supplier of 4G semiconductor solutions for wireless broadband applications, announced terms for its IPO on Monday. The company plans to raise $110 million by offering 9.2 million ADSs at a price range of $11 to $13. At the mid-point of the proposed range, Sequans Communications S.A. will command a market value of $438 million. Sequans Communications S.A., which was founded in 2003 and booked $69 million in sales last year, plans to list on the NYSE under the symbol SQNS. UBS Investment Bank and Jefferies & Co. are the lead underwriters on the deal, which is expected to price during the week of April 11.