Saifun Semiconductors climbs in first-day trading | VailDaily.com
YOUR AD HERE »

Saifun Semiconductors climbs in first-day trading

WASHINGTON – Shares of Saifun Semiconductors Ltd. rose sharply as the Israeli company had its trading debut on the Nasdaq Stock Market.The stock closed at $35.30 Wednesday, up $11.80, or 50 percent, from the $23.50 initial public offering price for 5 million shares.The price was above the expected price range of $20.50 to $22.50 set by underwriters Lehman Brothers Holdings Inc. and Deutsche Bank AG.A number of semiconductor companies are expected to make their public debuts in the next several months, and Saifun’s performance could indicate increasing investor appetite for this sector.The company designs memory chips that retain stored information even without a power source.The company, which began operations in 1997, just became profitable this year, when it earned $25.09 million in the first six months of 2005. The company lost $9.05 million in the first six months of 2004.Vail, Colorado


Support Local Journalism