January 8, 1999
Tundra Semiconductor To Offer About C$45M Of Stock
By SCOTT ADAMS
Dow Jones Newswires
TORONTO -- Tundra Semiconductor Corp., a Newbridge Networks Corp. (NN) affiliate which is in the process of going public, hopes to sell about C$45 million of stock, with about C$34 million of stock being issued from treasury and C$11 million in a secondary offering.
According to the offering greensheet obtained by Dow Jones, Kanata, Ont.-based Tundra plans to sell the shares within a range of C$8 to C$9.50 of share. Selling shareholders include Newbridge and company employees.
A greensheet is a document circulated to institutional investors and amongst underwriters during a road show. In Canada, the document doesn't have to be made available to the general public.
Tundra makes semiconductor chips that perform what is called bus-bridging functions in embedded computer systems. Bus-bridges control the flow of data in equipment such as network routers, switches, Internet access products, wireless communications infrastrucutre and robotic systems.
Tundra can be compared to such companies as Applied Micro Circuits Corp. (AMCC), Galileo Technology Ltd. (GALTF), Level One Communications Inc. (LEVL), MMC Networks Inc. (MMCN), PMC-Sierra Inc. (PMCS), Transwitch Corp. (TXCC) and Vitesse Semiconductor Corp. (VTSS), as detailed in the greensheet.
Pricing should be finalized during the week of Jan. 25 and closing is expected in the week of Feb. 8. |
