Mellanox Technologies Ltd. has raised the price range for its IPO to $14-16 from $12-14, and will become a public company this evening once it completes the pricing stage of its flotation.
The company develops and manufactures semiconductor-based, interconnect products that facilitate data transmission between servers and storage systems through communications infrastructure equipment.
Mellanox will issue 6 million shares raising $84-96 million at a company value of $420-480 million. The joint book runners for the IPO, Credit Suisse and JP Morgan, and the secondary underwriters, Thomas Weisel Partners, and Jeffries & Co have been granted an option to purchase 900,000 shares to cover the overallotment of shares, which will raise a further $12.6-14.4 million. The company will be listed for trading on Nasdaq under the ticker MLNX.
Mellanox was selected by “Globes” as the most promising start-up of 2005. The company has raised $89.3 million since it was founded, thus its value in the IPO will reflect a fivefold return for its investors, which include US Venture Partners and Sequoia Capital.
Published by Globes [online], Israel business news - www.globes.co.il - on February 7, 2007
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