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  1. Technology
September 12, 1995

SHARE & BOND ISSUES

By CBR Staff Writer

ESS Technology Inc, Fremont designer, developer and marketer of highly integrated mixed-signal semiconductor audio products for sale to multimedia desktop and notebook computer manufacturers, has filed with the US Securities & Exchange Commission to go public with an initial offer of 6m shares, 3.3m of them new, at a target price of between $12 and $14. The joint managing underwriters are Morgan Stanley & Co Inc, Hambrecht & Quist LLC and Needham & Co.

Silicon Valley Group Inc, San Jose semiconductor fabrication equipment maker, has filed to offer 3.5m new shares, 2.8m of them in the US and Canada and 700,000 shares elsewhere to raise cash to finance its production of equipment. The offering will be made through Morgan Stanley Inc, Prudential Securities Inc and Cowen and Co, the company noted.

US West Inc, Englewood, Colorado has filed a shelf registration with the US Securities & Exchange Commission for up to $500m in debt securities. The phone company says it wants the cash for reduction of borrowings and for other business opportunities.VLSI Technology Inc, San Jose, a leader among the second tier chipmakers, duly sold $150m principal amount of 8.25% convertible subordinated notes due 2005. Each note is convertible into shares of VLSI common at a conversion price of $54.80 per share, subject to adjustment. The company plans to use the net proceeds to expand internal and external wafer fabrication capacity and for working capital. The offering was made through Salomon Brothers Inc, Donaldson, Lufkin & Jenrette Securities Corp, Merrill Lynch & Co and Montgomery Securities Inc.

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