California-based SiTime to go public on Nasdaq

Source: Xinhua| 2019-11-10 08:43:43|Editor: Wang Yamei
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NEW YORK, Nov. 9 (Xinhua) -- SiTime Corporation, a California-based MEMS (microelectromechanical systems) timing solutions provider, plans to list its initial public offering (IPO) on the Nasdaq later this month, according to IPO advisory site IPO Boutique.

The company said Thursday that it had launched a roadshow for the IPO of 4.3 million shares of its common stock.

The underwriters will also have a 30-day option to purchase up to 645,000 additional shares of common stock at the IPO price.

The IPO price is currently expected to be between 13 and 15 U.S. dollars per share. SiTime expects to list its common stock on The Nasdaq Global Market under the ticker symbol "SITM."

It will remain majority owned by MegaChips, a Japanese company with its U.S. headquarters in San Jose, after the offering.

Barclays and Stifel are joint lead book-running managers for the offering. Needham & Company, Raymond James, and Roth Capital Partners are co-managers for the offering.