FEBRUARY 2, 2011 -- NeoPhotonics Corp.’s common stock began trading today on the New York Stock Exchange, under the symbol “NPTN”. The initial public offering of 7,500,000 shares of common stock was priced at $11.00 per share; however, shares jumped as much as 30 percent midday, trading at $14.
NeoPhotonics reportedly raised roughly $82.5 million in the IPO as a result of selling 7.5 million shares at $11 each.
NeoPhotonics, a San Jose, California-based maker of photonic integrated circuit-based modules and subsystems for high-speed communications networks, serves such clients as global network equipment vendors Cisco Systems, Huawei Technologies, Nokia Siemens Networks, and Mitsubishi Electric Corp.
BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Piper Jaffray & Co., Morgan Keegan & Company Inc., and ThinkEquity LLC are acting as co-managers for the offering.
A registration statement relating to these securities was filed with, and declared effective by, the U.S. Securities and Exchange Commission.