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Semiconductor producer SiTime prices IPO at $13 low end

November 21, 2019
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SiTime, the fabless producer of silicon timing systems being spun out of MegaChips, raised $56 million by offering 4.3 million shares at $13, the low end of the range of $13 to $15, to command a market value of $186 million. SiTime plans to list on the Nasdaq under the symbol SITM. Barclays and Stifel acted as lead managers on the deal.