Chinese IPO Filing: BCD Semiconductor Manufacturing Ltd. (BCDS)

247wallst — Mon, 28 Jan 2008 18:47:31 +0000

BCD Semiconductor Manufacturing Ltd. has filed to sell its shares of its ADS in an initial public offering. The ADS’s to be sold in the offering are expected to be offered by the company. Deutsche Bank will act as the sole book-running manager, and Needham & Co. and Piper Jaffray are registered as the as co-managers for the underwriting. It filed to sell 6 million ADS’s with a $9 to $11 offering range. Each ADS represents 5 ordinary shares. BCD Seniconductor will trade under the tentative ticker "BCDS" on NASDAQ.

It maintains direct relationships with key market-leading end users of our products, including Changhong and Foxconn in China, ASUSTeK and Delta Electronics in Taiwan, Sony in Japan and LG and Samsung in South Korea. The company is an analog integrated device manufacturer based in Greater China.

BCD Semiconductor posted $69.7 million in revenue in fiscal 2006, up 57.0% over 2005 revenue. It also posted a net loss in 2006 of approximately $4.6 million, and it lists its accumulated shareholders’ deficit at $61.4 million. As far as a more recent revenue target, it increased from $49.4 million to $69.3 million when comparing the 9-months ended September 30, 2006 and 2007, respectively, with an increase of 40.3%.

Jon C. Ogg
January 28, 2008

24/7 Wall St. » BCD Semiconductor

Chinese IPO Filing: BCD Semiconductor Manufacturing Ltd. (BCDS)