Alliance Semiconductor Corp has filed for an initial public offering of 2.5m shares, 2.2m new. The San Jose, California company supplier of memory products set no target price, but will use the proceeds for investments in or loans to foundries and for working capital. Hambrecht & Quist, Lehman Brothers and Needham & Co will co-manage the offer.
Millicom International Inc has filed with the US Securities & Exchange Commission for an offering of 3.1m shares, 3m of them new, to raise an indicated $75m. Morgan Stanley & Co is lead underwriter.
Taitron Components Inc has filed with the Securities and Exchange Commission for an intial public offering of 2.2m shares, all new. The Santa Clara, California company distributes semiconductor devices to other electronics distributors and to original equipment manufacturers. The offer is managed by D H Blair Investment Banking Corp.
ASM Lithography Holding NV, a unit of Philips Electronics NV got its initial public offering away at $18 per share, raising around $18m net proceeds. Phillips had predicted a target price of between $14.50 to $16.50 per share. Of the 11m shares being offered, 3m came from ASM and the balance from Phillips. ASM Lithography makes photolithography projection systems, known as wafer steppers, which are used in manufacturing integrated circuits. After the flotation, Philips will own about 62% of ASM Lithography, or 57% if the over-allotment option is exercised in full. Underwriters for the offering were CS First Boston.
General Cable Plc, the London-based Compagnie Generale des Eaux SA-owned cable television and local phone service company, has filed with the US Securities & Exchange Commission for the initial public offering of up to 90m ordinary shares to be sold in the US and internationally. Those sold in the UD will be in the form of American depositary shares each representing five ordinary shares. The estimated offering price was not included in the filing. Net proceeds will be used to repay debt of ú97.5m, and to provide ú76m for its share of building cable networks with the balance used for working capital. Underwriters are Lazard Freres & Co, NatWest Securities Ltd, Donaldson, Lufkin & Jenrette Securities Corp, and Morgan Stanley & Co Inc.
