LONDON – Fabless RF and analog chip company RDA Microelectronics Inc. (Shanghai, China) has filed an F-1 prospectus form for a $100 million initial public offering of stock with the U.S. Securities & Exchange Commission.
The form states the stock would be traded in the form of American Despository Shares (ADSs) in the United States.
RDA was founded in 2004 and shipped its first product in 2005. The diversified product portfolio now includes power amplifiers, transceivers and front-end modules, FM radio receivers, set-top box tuners, analog mobile television receivers, walkie-talkie transceivers, LNB satellite downconverters and Bluetooth system-on-chip. The company was initially backed with $15 million from private equity firm Warburg Pincus and was first included on the Silicon 60 in November 2005.
In its prospectus RDA claims it has been profitable for several quarters and to have made a net income of $11.3 million on sales revenue of $118.4 million in 2009. In the first six months of 2010, the company made a net income of $8.4 million on sales revenue of $76.2 million.
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