Alpha and Omega prices IPO within range
Chip maker Alpha and Omega Semiconductor Ltd. said late Wednesday it priced its initial public offering within expectations, raising $91.5 million.
The Sunnyvale, Calif., company sold 3.4 million shares and its shareholders sold 1.7 million to initial investors for $18 apiece.
Shares had been expected to price from $17 to $19 each.
Underwriters led by Deutsche Bank Securities and Piper Jaffray can buy about 762,900 more shares, if needed, to cover strong demand for the IPO shares.
Alpha and Omega makes chips that help improve power efficiency for notebooks, smartphones, flat panel TVs and other consumer electronics.
The shares are expected to begin trading on the Nasdaq Global Market Thursday under the symbol "AOSL."