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Chinese fabless firm postpones IPO, says report

Posted: 24 Nov 2005 ?? ?Print Version ?Bookmark and Share

Keywords:china? peter clarke? ipo? fabless? actions semiconductor?

Chinese fabless semiconductor company Actions Semiconductor Co. Ltd has postponed indefinitely a previously planned initial public offering of shares, according to a Reuters report that referenced a company spokesman.

No reason was given for the postponement of the IPO.

The IPO was pulled after another Chinese company Vimicro International Corp. went to market but ended up selling its shares at $10, below the $11 to $13 price range the company had aimed for. Actions had also aimed to list on the Nasdaq market.

Actions Semiconductor, which provides system-on-chips (SoCs) for personal media or MP3 players, had originally said in its filing that it intended to raise $225 million. That was reduced to $85 million, based on the midpoint of a reduced price range, according to the report.

One item which may have put off potential investors is that Actions Semiconductor is involved in a U.S. patent dispute with SigmaTel Inc.

- Peter Clarke
EE Times

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