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Montage Technology prices IPO at $10, below the range

By: Renaissance Capital
Posted: 9/25/2013 6:42:00 PM
Referenced Stocks: MONT

Montage Technology Group, a China-based fabless provider of chips for set-top boxes and memory computing, raised $71 million by offering 7.1 million shares at $10, below the range of $12 to $14. Montage Technology Group, which now commands a market cap of $277 million, will list on the NASDAQ under the symbol MONT. Deutsche Bank, Barclays and Stifel acted as lead managers on the deal.