Components | April 18, 2011
Sequans with IPO pricing at USD 10 per ADS
Sequans Communications S.A. set the pricing of its initial public offering of American Depositary Shares (ADSs), representing 7'700'000 ordinary shares, at a price to the public of USD 10.00 per ADS.
The ADSs began trading on Friday, April 15, 2011 on the New York Stock Exchange under the ticker symbol “SQNS.” The closing of the offering is scheduled to take place on April 20, 2011.
Of the ADSs sold in the offering, 6'666'666 ADSs are being offered by the Company and 1'033'334 ADSs are being offered by selling shareholders. In addition, the company and the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional aggregate of 1'155'000 ADSs to cover over-allotments, if any.
The company will not receive any proceeds from the sale of ADSs by the selling shareholders.
UBS Investment Bank and Jefferies & Company, Inc. are acting as the joint bookrunning managers for the offering.
Of the ADSs sold in the offering, 6'666'666 ADSs are being offered by the Company and 1'033'334 ADSs are being offered by selling shareholders. In addition, the company and the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional aggregate of 1'155'000 ADSs to cover over-allotments, if any.
The company will not receive any proceeds from the sale of ADSs by the selling shareholders.
UBS Investment Bank and Jefferies & Company, Inc. are acting as the joint bookrunning managers for the offering.
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