SGS-Thomson Microelectronics NV priced its offer of 18m, 11.7m of them in the US at $43.50 a share. Of the total, 3.575m come from Thorn EMI Plc, and 7.6m will be new. The offering is being made through Morgan Stanley & Co as global co-ordinator, and Banque Indosuez, Istituto Mobiliare Italiano SpA and Lehman Brothers Inc as co-global co-ordinators.
Insignia Solutions Plc, High Wycombe, Buckinghamshire specialist in facilities for running Windows environments and applications under Unix and other operating systems, has decided to float in the US but remain British. It has filed with the US Securities & Exchange Commission for an initial public offering of 3.6m American Depositary Shares, each representing one ordinary share, 1.8m of the shares being new, and looks to raise about $16.9m net for working capital. The underwriters are Robertson, Stephens & Co, Cowen & Co and UBS Securities Inc.