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To: Softechie who wrote (716)	2/7/2001 2:41:37 PM
From: Softechie	Respond to of 2155

Lucent's Agere IPO set at 370.3 mln shares, $15-$20 each -------------------------------------------------------------------------------- WASHINGTON, Feb 7 (Reuters) - Agere Systems Inc., the communications semiconductor firm that is being separated from Lucent Technologies Inc. , said on Wednesday it plans to sell as many as 370.3 million Class A common shares at a price of $15 to $20 each in an initial public offering. Agere, based in Allentown, Pa., disclosed the IPO terms in a filing with the Securities and Exchange Commission. It originally filed an IPO prospectus in early December. Agere is offering 222.7 million shares, with the other 147.6 million shares being offered by Morgan Stanley Dean Witter, the lead manager of the IPO. Morgan plans to acquire the shares from Lucent in a private deal prior to the closing of the IPO in exchange for debt obligations of Lucent held by Morgan Stanley, the SEC filing said. If that exchange doesn't occur, only 222.7 million shares will be sold. Agere hopes to net about $3.75 billion in proceeds if the shares end up selling for $17.50 apiece. The money may be used for general corporate purposes, including working capital, capital expenditures, debt service and potential acquisitions. Agere has applied for a New York Stock Exchange listing under the symbol AGR . Agere makes optoelectronic components that send and receive light that carries data and voice traffic over optical networks. In fiscal 2000, the company posted a net loss of $76 million on revenues of $4.7 billion. Lucent was the biggest customer in fiscal 1998 through 2000, according to the filing. After the IPO is completed, and assuming the exchange between Morgan Stanley and Lucent, Lucent will own 72.3 percent of Agere's total outstanding common stock. Lucent shares fell 48 cents to $17.38 on the New York Stock Exchange Wednesday. They had been as high as $75.25 in the past 52 weeks. REUTERS Rtr 11:34 02-07-01