Montage Technology Group Limited Announces Pricing Of Follow-On Public Offering

SHANGHAI, China, Jan. 31, 2014 (GLOBE NEWSWIRE) -- Montage Technology Group Limited (Nasdaq:MONT) ("Montage"), a global fabless provider of analog and mixed-signal semiconductor solutions currently addressing the home entertainment and cloud computing markets, today announced the pricing of its follow-on public offering of 5,350,000 ordinary shares at a price to the public of $21.00 per share. Of the 5,350,000 ordinary shares, 4,350,000 ordinary shares are being offered by certain selling shareholders and 1,000,000 ordinary shares are being offered by Montage. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 802,500 ordinary shares.

Montage intends to use the net proceeds for general corporate purposes, including working capital, capital expenditures and funding possible future acquisitions.

Deutsche Bank Securities Inc. and Barclays Capital Inc. are acting as joint book-running managers of the offering and as representatives of the underwriters. Stifel, Nicolaus & Company, Incorporated is also acting as a joint book-running manager. Wells Fargo Securities, LLC, Needham & Company, LLC, Chardan Capital Markets, LLC and Roth Capital Partners, LLC are acting as co-managers.

Montage's registration statement relating to these ordinary shares was declared effective on January 30, 2014 by the U.S. Securities and Exchange Commission.

The offer will be made only by means of a prospectus, copies of which may be obtained by contacting Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: prospectus.cpdg@db.com, or by contacting Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 888-603-5847 or email: Barclaysprospectus@broadridge.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

If you liked this article you might like

4 Stocks Breaking Out on Big Volume

Why Montage Technology (MONT) Stock Is Jumping Today

3 Stocks Spiking on Big Volume

Montage Buyout Comes With Familiar Allegation

Why Montage (MONT) Is Jumping Today