GigaMedia announces initial public offering.
NEW YORK, Feb. 17 /PRNewswire/ -- Taiwan-based GigaMedia announced the initial public offering of 8,830,000 of its common shares, priced at $27 a share. The shares will be listed on the Nasdaq National Market under the symbol "GIGM".
Goldman Sachs is the lead underwriter of the offering and Deutsche Bank is the co-manager. The Company has granted the underwriters an option to purchase up to an additional 1,324,000 common shares from the Company for the purposes of covering, over-allotments, if any.
GigaMedia is a leading provider of broadband Internet access services and content through its cable-based television network infrastructure in Taiwan. The company has access to more than 3.4 million households and 465,000 small- and medium-sized businesses. In addition to broadband access services, the Company also offers interactive multimedia content through its Web destination giga.net.tw. The site offers six interactive channels of Chinese-language content: music, entertainment, news, games, finance, freeware and TV programming sites.
Proceeds from the sale will be used to continue to fund the company's content business development, capital expenses, and general corporate purposes. |
