AMD-Fujitsu Flash Memory Joint Venture Raises $506.4 Million in IPO

Authored by Mark Hefflinger on December 16, 2005 - 8:30am.

Sunnyvale, Calif. - Shares of Spansion rose more than 12% in their debut Friday after the Flash memory joint venture of Sunnyvale-based AMD and Fujitsuraised $506.4 million in its initial public offering (IPO). It was the second largest IPO for a U.S. technology company this year. That in spite of the fact that the company priced its 42.2 million shares at $12 each, below its expected range of $13-$14, which itself had been lowered from $16-$18. Spansion's technology is used in consumer electronics products such as cell phones, PCs, set-top boxes and DVD players. The company's shares, trading on the Nasdaq under the symbol "SPSN," closed at $13.44.
http://biz.yahoo.com/prnews/051216/nyf035.html?.v=29
http://www.spansion.com