Astera eyes IPO raising about US$713mil

Astera had marketed the shares for US$32 to US$34 after elevating both the size and price target for the share sale. — Reuters

NEW YORK: Astera Labs Inc and its investors are set to raise about US$713mil, pricing shares in the semiconductor connectivity company’s initial public offering (IPO) above the marketed range, according to people familiar with the matter.

Tapping demand for investments related to artificial intelligence (AI), Astera and the current stockholders are selling 19.8 million shares for US$36 each, said the people, who asked not to be identified because the information wasn’t public yet.