NEW YORK(Reuters) – Chipmaker Alpha and Omega Semiconductor Ltd (AOSL.O) said on Wednesday it priced shares in its initial public offering within the expected range.
Alpha and Omega sold a total 5.09 million shares for $18 each, raising about $91.6 million, with 3.4 million shares coming from the company and a further 1.69 million from shareholders.
The company had narrowed the expected price range to $17 to $19 from $16 to $20 earlier in the month.
Alpha and Omega, whose customers include Hewlett-Packard Co (HPQ.N), Asustek and Foxconn, makes microchips for everything from notebook computers to mobile phone battery packs.
The company posted revenue of $185.1 million in the year ended June 30, down 25.4 percent from a year earlier. The company narrowed its loss attributable to equity holders to $542,000 from $26.8 million.
Major shareholders include Chief Executive Mike F. Chang and funds affiliated with Sequoia Capital.
Underwriters were led by Deutsche Bank Securities and Piper Jaffray. Shares in the company are expected to begin trading on the Nasdaq on Thursday under the symbol “AOSL”. (Reporting by Clare Baldwin; Editing by Lincoln Feast)