NeoPhotonics, a leading provider of photonic-based optical modules and subsystems for high-speed data networks, raised a greater than expected $83 million by offering 7.5 million shares at $11, at the high end of its $9 to $11 range. The company had originally filed to sell 7 million shares. The San Jose, CA-based company, which conducts the majority of its manufacturing in China, is seeing healthy demand for its products as data carriers look to upgrade their networks to support growth in bandwidth-hungry content such as video and other multimedia applications. The company generated $176 million in sales for the 12 month period ending September 30, 2010. NeoPhotonics will begin trading Wednesday on the NYSE under the symbol NPTN. BofA Merrill Lynch and Deutsche Bank Securities acted as lead managers on the deal.
