Telegent Files for IPO (TLG)

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Telegent Systems, Inc. has just become the latest company to file to come public via an Initial Public Offering.  No terms were listed, but the initial prospectus filing is for up to $250 million in common stock. Telegent will list on the NYSE under the stock ticker “TLG.”  Goldman Sachs and J.P. Morgan are the lead underwriters, with co-managers listed as Jefferies & Co., Oppenheimer & Co., and Piper Jaffray.

Telegent is a fabless semiconductor company that has core expertise in RF mixed-signal design, communications signal processing, and multimedia processing.  This is designed to offer live broadcast television on very small screens and the company says its technology is integrated into more than 50 million handsets globally.

The use of proceeds is earmarked for general corporate purposes, sales and marketing, and research and development.

In its fiscal year ended March 31, 2009, Telegent generated revenue of $123.9 million,representing 150% year-over-year growth.  In the six months ended September 30, 2009, it turned in revenue of $111.1 million, representing 66% growth over the comparable period in 2008. The company also noted that it has been profitable for nine consecutive quarters.

JON C. OGG