Ambarella, a US-based semiconductor company backed by Taiwanese peer Wintech Microelectronics, raised $36m in its initial public offering (IPO).
The company offered 4.9 million shares at $6 each, while its shareholders sold 1.1 million on 10 October, according to its regulatory filing. The issue gave the company a market capitalistion of more than $155m.
The flotation was advised by Morgan Stanley, Deutsche Bank, Stifel Nicolaus Weisel and Needham & Company. It listed on Nasdaq under the ticker AMBA. Ambarella’s stock was trading at $8.44 per share yesterday at the time of writing.
Wintech owned a 7.3% stake, or 1.5 million shares, ahead of the flotation, which went down to 4.8% post the IPO, after it sold 288 thousand shares. Other institutional shareholders with a more than 5% stake in Ambarella are venture firms Benchmark Capital (17.7% pre-IPO stake), Walden International (11.3%) and Matrix Partners.
Wintech provided $77.6m of Ambarella’s sales last year.
In the year ended January 2012 Ambarella had $97.3m in revenues and a net income of $9.8m.