Credit: Shutterstock photoInnoLight Technology, which manufactures high-speed optical transceivers for data networks, withdrew its plans for an initial public offering on Thursday. It originally filed in June 2015 with a proposed deal size of $100 million. It last filed an amendment to its application in August of 2015. Public peer Acacia Communications is the top performing IPO of the year, up 216% from its May IPO.
Primary shareholders include Google Capital, Suzhou Oriza Holdings, Lightspeed China Partners, ITC Vision, Hsing Hsien Kung and Sheng Liu.
The Suzhou, China-based company was founded in 2008 and booked $152 million in sales for the 12 months ended June 30, 2015. It had planned to list on the Nasdaq under the symbol INLT. Credit Suisse and Barclays were set to be the joint bookrunners on the deal.
The article InnoLight Technology withdraws $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
