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Integrated raises $100.8M
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August 17, 2000: 10:53 p.m. ET
Peco II prices at midpoint; WJ Communications raises $86.4 million
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NEW YORK (CNNfn) - Integrated Telecom Express Inc., which makes circuits and software products, raised $100.8 million Thursday ahead of its initial public offering.
Integrated, which priced its shares at the midpoint of its expected range, sold 5.6 million shares at $18 each via underwriters led by Lehman Brothers. The company had planned on selling 5.6 million shares at $17 to $19 each.
The Santa Clara, Calif.-based Integrated Telecom makes ADSL circuits and software products that are used in broadband access equipment. The company's ADSL technology, a form of digital subscriber lines (DSL), converts existing copper telephone lines into instant high-speed links for Internet access and multimedia access.
Integrated, which competes against Lucent Technologies (LU: Research, Estimates) and Texas Instruments Inc. (TXN: Research, Estimates), plans to trade under the stock symbol "ITXI."
Also pricing at the midpoint, Peco II Inc. raised $75 million after pricing 5 million shares at $15 each via underwriters led by Robertson Stephens. The company had planned on selling 5 million shares at $14 to $16 each.
Galion, Ohio-based Peco makes communication equipment, such as power systems and power distribution equipment, for the communications industry. Customers include Bell Atlantic Corp. (BEL: Research, Estimates), Lucent Technologies (LU: Research, Estimates), and Sprint Corp. (FON: Research, Estimates). Peco plans to trade under the stock symbol "PIII."
WJ Communications prices at top
Pricing at the top of its range, WJ Communications raised $86.4 million after selling 5.4 million shares at $16 each, through underwriters led by Chase H&Q.
The Palo Alto, Calif.-based company develops radio frequency products that speed the transmission of voice, video and data traffic along communication networks. Customers include Nortel Networks Corp. (NTL: Research, Estimates) and Lucent Technologies (LU: Research, Estimates). The company plans to trade under the Nasdaq symbol "WJCI."
Other deals expected to price Thursday include Changepoint Corp. and Viasource Communications Inc. 
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