BCD Semiconductor Manufacturing Inc. on Friday released estimated terms of its U.S. initial public offering of 6 million American depositary shares

BCD Semiconductor Manufacturing Inc. on Friday released estimated terms of its U.S. initial public offering of 6 million American depositary shares, with proceeds planned to repay debt and complete construction of a second factory.

Chinese companies continue to line up their IPOs this year, after the market last year generated a lot of interest from companies based in the Asian nation. China is likely to continue generating a significant portion of IPOs this year, after generating more than Europe and the U.S. combined in the past two years.

BCD Semiconductor, a China-based maker of power management semiconductors used in computing, consumer and communications markets, estimates the ADS would be priced between $10.50 to $12.50 each, with the offering to reach a maximum $86.3 million. It has applied to list the ADS on the Nasdaq Global Market under the symbol BCDS.

It is offering about 4.3 million ADS, while the selling shareholders are offering the rest. The company won't receive any proceeds from the sale of ADS offered by the selling shareholders.

The company's chips are used to reduce power consumption and used in electronic systems sold by more than 2,000 original equipment manufacturers, including major names such as Asustek Computer Inc. (2357.TW, ASUUY) and Foxconn Electronics Inc.
For the nine months ended Sept. 30, BCD Semiconductor's earnings nearly quintupled to $16.6 million from a year earlier. Revenue climbed 38% to $67.8 million and gross margins widened to 33% from 23.2%.

By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

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