Lucent's Agere Systems Unit Files for IPO
Lucent's
(LU)
Agere Systems
unit filed a registration statement with the
Securities and Exchange Commission
for an initial public offering of up to $100 million of common stock.
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Agere Systems develops optoelectronic components for communications networks and integrated circuits for use in communications and computer equipment.
Agere, which is based in Allentown, Pa., expects to complete the IPO by the end of March.
Morgan Stanley Dean Witter
will be the lead underwriter.
Shares of telecom equipment maker Lucent were recently trading up 31 cents, or 2%, to $15.75 in
New York Stock Exchange
composite trading.
