Optical networking company acacia communications drew robust investor demand for its US$103.5m IPO last week, achieving top-end pricing and surging on debut to bolster confidence in the technology new issue market. Leads Goldman Sachs, Bank of America Merrill Lynch and Deutsche Bank priced 4.5m Acacia shares, or 13% of outstanding, at US$23 each versus a US$21-$23 marketing range. The deal was 20 times covered ahead of pricing, bankers said. The IPO price valued the company at US$820.3m versus revenue of US$239.1m and non-GAAP net income of US$32.3m last year.
展开▼
