Montage Technology Group, a China-based fabless provider of analog and mixed-signal chips for set-top boxes, announced terms for its IPO on Wednesday. The Shanghai, China-based company plans to raise $92 million by offering 7.1 million shares (25% insider) at a price range of $12 to $14. At the midpoint of the proposed range, Montage Technology Group would command a market value of $344 million.
Montage Technology Group, which was founded in 2004 and booked $90 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol MONT. Montage Technology Group initially filed confidentially on April 8, 2013. Deutsche Bank, Barclays and Stifel are the joint bookrunners on the deal.
