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Ikanos Communications (IKAN) RSS Feed

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6
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Created
09/03/05
Type
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http://www.ikanos.com 



Ikanos Communications develops silicon solutions that are focused on delivering fiber-fast broadband access over existing copper lines. Ikanos has created highly integrated silicon solutions that are programmable in the field, compliant with international standards, and support both ATM and Ethernet network connectivity. In addition, the Ikanos solutions offer best in class performance, with the most granular bandwidth scalability and industry leading aggregate throughput of up to 150 Mbps over a single copper line.

Ikanos has brought together a highly experienced team of broadband communications engineers and has filed for 33 patents on its fundamental technology. Founded in 1999 and based in Fremont, California

WASHINGTON, Aug 23 (Reuters) - Ikanos Communications, which develops semiconductors that enable fiber-fast broadband services over telephone companies' existing copper lines, on Tuesday set its planned initial public offering at 6.4 million shares at an estimated price of $10 to $12 each.

The Fremont, California-based company said in a regulatory filing that the underwriters have the option to buy an additional 960,000 shares to cover over-allotments.

Citigroup, Lehman Brothers, Deutsche Bank Securities and Thomas Weisel Partners are underwriting the offering.

Ikanos said it estimates it will receive $63.1 million in net proceeds from the IPO, which it will use for general corporate purposes, including working capital and capital expenditures.

For the first six months of 2005, the company said its net loss narrowed to $4.14 million from $7.15 million a year earlier as net revenue rose to $31.53 million from $30.19 million.

Assuming an IPO price of $11 per share, the midpoint of the expected range, the company would have an initial market capitalization of $261.76 million.

Ikanos intends to list its stock on the Nasdaq under the symbol "IKAN"

 

[chart]stockcharts.com/c-sc/sc?s=IKAN&p=D&yr=0&mn=6&dy=0&i=p66914433150&r=8697[/chart]

 

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