PowerDsine Ltd. recently announced the initial public offering (IPO) of 6 million of its ordinary shares at $11.50 per share. PowerDsine is selling 5.1 million ordinary shares. Certain existing shareholders are selling 900,000 of the 6 million shares. PowerDsine's ordinary shares are listed on the NASDAQ National Market under the symbol "PDSN" and began trading on June 10, 2004.
The selling shareholders have granted the underwriters a 30-day option to purchase an additional 900,000 ordinary shares to cover any over-allotments. Citigroup Global Markets Inc. is acting as sole book-running manager, and Deutsche Bank Securities Inc., CIBC World Markets Corp. and Piper Jaffray & Co. are acting as co-managers. The ordinary shares are being offered only by prospectus. Copies of the prospectus relating to this offering may be obtained from Citigroup Global Markets at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220; Phone: 718-765-7632.
For more information, visit www.powerdsine.com.