Alpha and Omega Semiconductor shares fall in IPO debut after chip maker raises $91.5 million
By APThursday, April 29, 2010
Alpha and Omega shares fall in IPO debut
NEW YORK — Shares of chip maker Alpha and Omega Semiconductor are falling in their market debut after the chip maker raised $91.5 million in its initial public offering.
The Sunnyvale, Calif., company priced 5.1 million shares at $18 Wednesday night, within the expected range of $17 to $19.
Alpha and Omega Semiconductor Ltd. makes chips that help improve power efficiency for notebooks, smartphones, flat panel TVs and other consumer electronics.
The shares, trading on the Nasdaq Global Market under the symbol “AOSL,” are down 55 cents, or 3 percent, to $17.56 in morning trading, even as broader markets gain. The Nasdaq is up 0.8 percent.
Disappointing performances from IPOs last week are weighing on the market.
