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What do you know -- IPOs!

August 21, 2009

Posted by Stephen Hardy Follow me on Twitter: @lightwaveonline

Here's something you probably didn't think you'd see again anytime soon: a pair of successful IPOs in the optical communications space.

Avago Technologies started the ball rolling earlier this month when it offered 43,200,000 ordinary shares on NASDAQ at a public price of $15.00 per share. (Underwriters purchased an additional 6,480,000 ordinary shares from selling shareholders via the underwriters’ over-allotment option.) The shares, under the listing AVGO, are trading at $17.78 as I write this at about 2:15 EDT.

Meanwhile, on the other side of the world, Accelink launched its IPO today on the Shenzhen Stock Exchange. The initial asking price for the shares, trading under the number SZSE 002281, was approximately $2.34. However, online sources suggest it opened at $3.95 a share and closed at approximately $4.36.

Not bad for an industry that's supposed to be hurting, eh? While one can point to the last round of optical IPOs and assert that early exuberance will quickly fade, I still think it's encouraging that the offerings even took place, never mind that the stocks are trading above the initial asking price.

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The Lightwave editorial staff uses The Lightwave Blog to share their thoughts on optical communications and whatever else might be the current topic of conversation from cubicle to cubicle. Feel free to add your own opinions.

Stephen Hardy is editorial director and associate publisher of Lightwave, which makes him responsible for the editorial aspects of the Lightwave franchise. A technology journalist since 1982, he once had his job duties described as "gets paid to tick off advertisers ".

Meghan Fuller is senior editor of Lightwave. She has degrees from Franklin & Marshall College in Lancaster, PA, and the University of Delaware and is a card-carrying member of Red Sox Nation.