logo
  Join        Login             Stock Quote

Ruckus Wireless Sets IPO Pricing Between $13 And $15

 November 05, 2012 12:14 PM
 


(By Balachander) Ruckus Wireless Inc, a provider of WiFi services, has set the terms for its initial public offering (IPO).

The Sunnyvale, California-based company has launched an IPO of roughly 8.4 million shares, with an estimated pricing between $13.00 and $15.00 each.

The IPO is expected to raise up to $144.9 million, versus earlier estimate of $100 million.

Ruckus is offering 7 million shares, while stockholders are offering 1.4 million.

Investors in the company include: Sequoia, Sutter Hill, Investor AB, Motorola Ventures, T-Ventures, Telus, Firelake Capital, Focus Ventures.

The company, which commenced operations on June 2004, earned $29.8 million on revenue of $152.5 million for the first nine months of 2012, in which it added over 7,100 new end-customers.

[Related -Bank Stocks: The Misbegottenness of the Volcker Rule Truly Knows No Bounds]

For the year ended December 31, 2011, the company posted net income of $4.2 million on revenue of $120.0 million.

The company, which makes advanced Wi-Fi controllers and gateways, proposes to list its stock on the NYSE under the symbol "RKUS".

According to Gartner Inc., the market for Wi-Fi networking solutions for enterprises is expected to grow to $6.9 billion in 2016 from $3.4 billion in 2011, representing a 15 percent compound annual growth rate.

The company's customers include Time Warner Cable Inc. (TWC), Bright House Networks, The Cloud (a BSkyB Company), KDDI, Tikona Digital Networks and Towerstream.

[Related -Gold hasn’t lost its allure in my portfolio]

Goldman Sachs & Co (GS) and Morgan Stanley (MS) are the lead underwriters to the offering.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imagePick a Valid Strategy, Stick With It

I’m not going to argue for any particular strategy here. My main point is this: every valid strategy is read on...

article imageHow to Prepare For A Correction Without Missing Out On Upside Potential

Recent market commentary is starting to remind me of the periods in 2000 and 2008 just before the bottom read on...

article imageBritain’s Boom Can Still Zoom

Don’t overthink the disconnect between strong UK GDP and wobbly UK stocks. Economic fundamentals should win read on...

article imageA Serious Red Flag

Stocks have stayed largely in reverse gear in the last week following weaker-than-expected earnings reports read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.