Wolfson float lifts hopes of tech stock revival
Friday 17 October 2003
The largest technology float on the London Stock Exchange in three years got off to a strong start yesterday as Wolfson Microelectronics surged ahead of its issue price.
Wolfson, which designs chips for a range of consumer electronics including DVDs, games consoles and mobile phones, closed at 247p after reaching 275p in heavy trading, against an issue price of 210p. The book runner Citigroup got the 32.9 million shares on offer away at the top end of the 150p to 210p indicative range. Unconditional dealings start on Tuesday.
This was the second successful float in two days. The academic research publisher IP2IPO, placed at 275p, rose to 330p on Wednesday and added another 15p to 345p yesterday.
Wolfson's £260m flotation involved the issue of 11.9 million shares to raise £25m and the sale of 21 million shares worth £69m by existing shareholders. Analysts will be watching to see whether Wolfson's early success marks the start of a wider recovery in tech stocks.
- 1 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 2 Mother of newborn Baby No 59 trapped in sewer pipe told Chinese police she 'heard crying' when she raised alarm
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 This crazy skiing video will leave you feeling queasy
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Mother of newborn Baby No 59 trapped in sewer pipe told Chinese police she 'heard crying' when she raised alarm
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
AirAsia QZ8501: Black box reveals warning alarms 'screamed' before crash, as more bodies recovered from near fuselage of jet
Rob Lowe hits out at White House decision not to meet Israeli leader
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
British Muslim school children suffering a backlash of abuse following Paris attacks
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...