SemiLEDS Files for $173 Million IPO
Source/Type:  LIGHTimes Online - News - Staff reports

Author: LIGHTimes News Staff

August 10, 2010... SemiLEDS Corporation, a U.S.-based maker of LED chips and components for customers in China, Taiwan, and Korea, filed for an Initial Public Offering on Friday. The company filed with the U.S. Securities and Exchange Commission to raise up to $173 million. The company was founded in 2005 and booked $29 million in sales for the 12 months ended May 31. SemiLEDs plans to list on the NASDAQ under the symbol LEDS. BofA Merrill Lynch, Barclays Capital and Jefferies & Co. are the lead underwriters on the deal. No pricing terms were disclosed.

SemiLEDs produces vertically structured, metal alloy-based LED chips. The company specializes in blue, UV, and green LED chips. SemiLEDs contends that its LEDs offer better thermal design which enables a longer lifetime and reliability, as well as better color consistancy. The company says that its vertical structure and copper alloy p-pad, enable lower forward voltages, and better current spreading for better overall efficiency. Also the design feature a light extraction layer and the thin structure for a directional light output with a Lambertian pattern, which the company says enables better optical coupling and maximizes usable light.

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