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UPDATE 1-Neophotonics to raise up to $115 mln in IPO
April 15, 2010 / 10:02 PM / 7 years ago

UPDATE 1-Neophotonics to raise up to $115 mln in IPO

* Says may use part of proceeds for acquisitions

* Intends to list the stock under “NPTN” on NYSE

April 15 (Reuters) - Neophotonics Corp filed with U.S. securities regulators on Thursday to raise up to $115 million in an initial public offering of common stock.

The company, which makes photonic integrated circuit-based modules and subsystems for bandwidth-intensive, high-speed communications networks, plans to list its stock on the New York Stock Exchange under the symbol “NPTN,” but did not say how many shares it plans to sell.

Neophotonics said it plans to use the net proceeds from the offering for working capital, and may also use a portion of the net proceeds to acquire complementary businesses, products, services or technologies.

The company told the U.S. Securities and Exchange Commission in a preliminary prospectus that J.P. Morgan Securities Inc and Deutsche Bank Securities Inc are acting as joint book-running managers of the offering. (Reporting by Brenton Cordeiro in Bangalore; Editing by Anne Pallivathuckal)

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