Ikanos rises on debut
Facebook Twitter google+ RSS Feed

Ikanos rises on debut

By siliconindia staff writer   |   Friday, 23 September 2005, 07:00 Hrs
Printer Print Email Email
NEW YORK: Shares of Ikanos Communications Inc, owned by Indian American Rajesh Vashist, rose on debut, as the Fremont based semiconductor developer made its appearance in the New York Stock Exchange.

The company’s stocks closed on $13, after rising $1, or 8.3 percent. The company offered each shares at $12 for the 6.4 million shares, at the high end of the expected range of $10 a share to $12 a share.

Ikanos, which makes semiconductors that enable fast Internet service over telephone companies' existing copper lines, sold the shares through underwriters Citigroup Inc., Lehman Brothers Holdings Inc., Deutsche Bank AG and Thomas Weisel.

Despite reporting net losses since 2000, their revenues have risen and the losses narrowed. The company will use the proceeds for general corporate purposes and potential acquisitions.

The company’s trading name on NYSE is ‘IKAN.’

Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Philips
Sr. Executive
ISB
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
NIC
Reena Khanna
Founder
Solitaireworld
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset