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NeoPhotonics looks to stock markets for growth

14 February 2011.
It’s been a long time since a pure optical components company staged an IPO, but planar lightwave circuit manufacturer NeoPhotonics has just proved that it’s still possible.  The company went public on the New York Stock Exchange on 2 February priced at $11 per share to raise a grand total of $82.5m (€61m).
 
Trading under the ticker symbol NPTN, the stock jumped on the first day and has continued to climb, closing at $18.29 per share at the time of writing (10 February). The positive performance seems to be part of a wider trend, with stocks of other components players like Finisar, JDSU and Opnext all making significant gains in recent weeks.
 
NeoPhotonics is based in San Jose, where it has an R&D centre, but carries out most of its activities in China, manufacturing and packaging a range of components from FTTx transceivers to AWG-based ROADMs.  The firm also has a stake in Norwegian components maker Ignis.
 
By Pauline Rigby.