As seen with the IPOs of Aruba Networks (NASDAQ: ARUN) and Starent Networks (NASDAQ: STAR), Wall Street can't seem to get enough of wireless plays. The latest IPO filing comes from Spreadtrum, which is a fabless semiconductor company. The chips help to boost multimedia and power management capabilities.
What's more, Spreadtrum has a strong presence in China. This has several advantages: access to a large pool of technical workers, a well-developed supply chain, and a fast-growing market (487.4 million wireless subscribers as of April 2007).
The company has been growing at a rapid rate. From 2003 to 2006, revenues have surged from $2.4 million to $107.1 million. In fact, the company reached profitability in the first quarter of 2006.
The lead underwriters include Morgan Stanley (NYSE: MS) and Lehman Brothers (NYSE: LEH). The proposed ticker symbol is "SPRD."
You can find the IPO filing at the SEC website.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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