Broadband silicon firm Ikanos Communications expects to raise $69 million in an initial public offering of 6.4 million shares priced at $12 each.
Ikanos, which makes chipsets for the emerging VDSL2 platform, expects to close the offering on Sept. 27.
Citigroup Global Markets Inc. and Lehman Brothers Inc. are serving as joint lead managers for the IPO. Deutsche Bank Securities and Thomas Weisel Partners LLC acted as co-managers. Ikanos has granted the underwriters an option to purchase up to 960,000 additional shares to cover over-allotments, if any.