NEW YORK-LCC International Inc., an independent provider of radio frequency network design for wireless telecommunications, went public Sept. 25 with a 5.25 million share offering of Class A common stock at $16 each.
The new issue was increased from the 5 million share initial public offering envisioned in the preliminary statement. The company’s shares closed their first day of trading at $20 each.
Donaldson, Lufkin & Jenrette Securities Corp., New York, was lead underwriter of the offering.
Headquartered in Arlington, Va., LCC was founded in 1983 to develop “a standard method of applying design engineering principles to wireless system design,” said the preliminary prospectus for the stock sale.
According to that report, LCC has provided services and products to seven of the largest cellular carriers in the United States, as well as to large international cellular providers, including British Telecommunications plc, France Telecom Group and Mannesmann Mobilfunk GmbH in Germany. Nearly 40 percent of LCC’s 1995 revenues were derived from its international customers.
In the United States, companies building or planning to build personal communications services networks also are among LCC’s customers, including AT&T Wireless Services Inc., Pacific Bell Mobile Services, NextWave Telcom Inc. and Pocket Communications Inc.
Enhanced specialized mobile radio operators, notably Nextel Communications Inc., as well as two-way messaging system companies, also are LCC customers, the company said. Nextel, which is LCC’s largest customer, accounted for 14 percent of its revenues last year.
