Ruckus Wireless sees IPO priced at $13-$15/share
(Reuters) - WiFi products maker Ruckus Wireless Inc increased the estimated size of its initial public offering and said it plans to sell 8.4 million shares at $13 to $15 per share.
The IPO will raise up to $144.9 million, compared to the $100 million estimated earlier.
Ruckus is offering 7 million shares, while stockholders, including Telus Corp, are selling 1.4 million.
The Sunnyvale, California-based company, which makes wireless LAN products for both indoor and outdoor use, intends to list its stock under the symbol "RKUS" on the New York Stock Exchange.
Ruckus, backed by private equity firm Sequoia Capital, competes with Meru Networks Inc (MERU.O), Aruba Networks Inc (ARUN.O) and larger companies like Cisco Systems Inc (CSCO.O).
The company's customers include Time Warner Cable Inc (TWC.N), Towerstream Corp (TWER.O), Tikona Digital Networks and Bright House Networks.
Goldman Sachs & Co and Morgan Stanley are the lead underwriters to the offering. (Reporting by Ashutosh Pandey in Bangalore; Editing by Sreejiraj Eluvangal)
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