Qualcomm Moderated Thread - please read rules before posting Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 176.18

+2.0%

10:15 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Eric L who wrote (6593)	1/26/2001 4:01:09 PM
From: Eric Martin	Read Replies (1) of 196450

Qualcomm May Bypass IPO in Spinoff of Chip Business, CFO Says By Scott Lanman San Diego, Jan. 26 (Bloomberg) -- Qualcomm Inc. may skip the initial public offering of its mobile-phone chip business and proceed straight to spinning off the unit if the IPO market doesn't rebound, Chief Financial Officer Anthony Thornley said. ``The effective deadline for the IPO is March or April, because we need a few-month window between the IPO and the final distribution, if we're going to do an IPO,'' Thornley said in an interview with Bloomberg News yesterday. Qualcomm said last July it would spin off the business, which accounted for 48 percent of sales in the latest quarter, so it is free to make chips based on standards other than the Code Division Multiple Access technology developed by Qualcomm. Qualcomm would retain the unit that licenses CDMA patents and gets royalties on mobile-phone sales. The San Diego-based company hoped to hold the IPO in late 2000 and complete the spinoff by August 2001. In November, Qualcomm said it would reconsider the sale in January. Now Qualcomm expects to spin off the unit, currently known as Qualcomm Spinco Inc., by late this year. Qualcomm shares rose $5.50 to $79.44 in midafternoon trading. The company said yesterday that chip sales will rise this quarter from the prior period and that demand is outstripping supply. (To listen to the interview with Thornley, please see {QCOM US TCNI AV }.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next