Netgear prices Arlo IPO below range, at USD 16/share

News Broadband Global 3 AUG 2018
Netgear prices Arlo IPO below range, at USD 16/share
Netgear has announced the pricing of Arlo’s planned initial public offering of over 10.2 million shares at USD 16 per share, below the earlier indicated range of USD 18-20 per share. This means gross proceeds of USD 163.2 million for the company, excluding the greenshoe of 1.5 million more shares. 

The New York Stock Exchange has conditionally approved the listing and the shares are scheduled to start trading on 3 August. The IPO is expected to close on or about 7 August, subject to the usual conditions. 

Netgear remains the majority shareholder of Arlo, which focuses on the connected security camera market. For the second quarter, Arlo expects revenues of USD 107-112 million, up from USD 79.2 million a year earlier. The company's losses are also expected to increase, in Q2 and the rest of 2018, due to the costs of the separation from Netgear and IPO. 

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Fixed

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Netgear

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Shareholders & subsidiaries, Consumer devices, Corporate strategy, Financial funding

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