Feeds

AMD forced to be more modest with Spansion IPO

Price target trimmed

Intelligent flash storage arrays

AMD is feeling the pinch as tepid interest in its Spansion spinoff has forced a reduction in the IPO price range.

In a filing with the US Securities and Exchange Commission, AMD revealed a cut in the price range for the memory company IPO down from between $16 to $18 a share to between $13 and $14 a share. The Wall Street rumor mill pegged even the $13 target as ambitious with some saying a $12 per share target might be more likely. This is hardly the reception AMD was expecting.

Spansion looks to raise up to $493m in proceeds from the IPO.

By freeing itself of an up and down memory business, AMD's results should appear more consistent. The company has been taking market share from rival Intel, particularly in the server market and has enjoyed record processor revenues in recent quarters.

In addition, Intel may be less inclined to be as fiercely competitive on memory prices with Spansion as it was when AMD sold memory in-house. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.