Parade Technologies, Ltd. (GTSM: 4966) (“Parade” or the “Company”) today announced that its Board of Directors approved a plan to sponsor a possible offering (the “Offering”) of up to 11 million ordinary shares held by certain pre-IPO investors in the form of Global Depositary Receipts (“GDRs”). The Offering will comprise entirely of secondary shares; no primary shares will be issued. The transaction is subject to regulatory approvals and is, subject to market conditions, expected to be completed in 2012.
About Parade Technologies, Ltd.
Parade Technologies, Ltd. (GTSM: 4966) is a leading fabless supplier of mixed-signal ICs for a variety of popular display and high-speed interface standards used in computers, consumer electronics and display panels. Parade’s portfolio of IC products serves the growing demand for HDMI™, DisplayPort™, SATA, and USB ICs in display, storage and interface applications.
Parade leverages its close relationships with market-leading Tier-1 OEMs to develop ICs that provide unique system capabilities. Many of the company’s devices integrate proprietary technologies that offer superior system signal integrity, advanced system integration and enhanced power efficiency. As a result of the company’s “standards-plus” design philosophy, Parade ICs have been designed into products offered by nearly every leading computer and display vendor worldwide.
This press release is not an offer to sell or a solicitation of any offer to buy the securities of Parade in the United States.
The securities will not be offered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from such registration requirement. Any public offering of the securities in the United States will be made by means of a prospectus that would be obtained from Parade and that would contain detailed information regarding Parade and management, as well as financial statements.
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