NEW YORK-Wavecom S.A., a French provider of digital wireless standard modules, went public June 9 with a 3.3 million share offering at 13.50 euro per share and $14 per American Depository Receipt.
Credit Suisse First Boston was lead underwriter for the initial public offering. Wavecom’s stock will be listed on the Nouveau Marche of the Paris Bourse and its ADRs on Nasdaq under the symbol “WVCM.”
Headquartered in Issy-Les-Moulineaux, a suburb of Paris, Wavecom also has offices in San Diego and Hong Kong.
Wavecom develops and markets its branded Wismo modules, which are compact, standardized devices that contain substantially all of the hardware, software and other technology needed to enable wireless communications.
Customers use Wismo modules in handsets, modems and other equipment and applications for wireless communications.
Wavecom provides support and development services to assist its customers in integrating Wismo modules into their wireless applications. The company also sells mobile phones and wireless modems that incorporate its Wismo modules.
Proceeds of the initial public offering will be used to repay short-term debt, provide working capital, fund research and development and possibly also to finance the acquisition of businesses, products or technologies.
