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News > Deals
Agere IPO slips to next week
March 21, 2001: 11:56 a.m. ET

Lucent unit to change terms for a third time, price next week
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NEW YORK (CNNfn) - The highly anticipated initial public offering from Agere Systems Inc. will issue revised terms Thursday and the offering will price next week, a source familiar with the situation told CNNfn.com.

The revision will be the third time Agere has modified its terms. On Monday, CNNfn.com reported that the IPO would be revised and could price later this week, but more likely next Monday.

Agere, the microelectronics unit of Lucent Technologies, could have raised $7 billion, ranking it as the largest U.S.-based IPO since AT&T Wireless Group's (AWE: Research, Estimates) $10.6 billion offering last year.

On Feb. 26, Agere revised its planned offering for the second time and said it expected to sell 500 million shares at $12-to-$14 each via Morgan Stanley Dean Witter. Agere plans to trade under the New York Stock Exchange symbol "AGR.A."

Verisity

Verisity Ltd., a provider of technology to verify the designs of chips, rose nearly 20 percent Wednesday as the first and only IPO to begin trading this week.

Verisity gained $1.63 to $8.63 on the Nasdaq in afternoon trading and probably will emerge as the only offering to be priced this week.

The company raised $23.3 million late Tuesday, less than expected. The company sold 3.335 million shares at $7 each, below its expected $8 to $10 range, via lead underwriter Robertson Stephens.

Mountain View, Calif.-based Verisity (VRST: Research, Estimates) provides technology that helps detect flaws in semiconductors. Principal customers include Cisco Systems (CSCO: Research, Estimates), Hewlett-Packard (HWP: Research, Estimates), Alcatel and Texas Instruments (TXN: Research, Estimates). Verisity had a loss of $4.4 million on $21.5 million in revenue in fiscal 2000.  graphic





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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.