Feeds

AMD forced to be more modest with Spansion IPO

Price target trimmed

The essential guide to IT transformation

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. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.