iPod audio chip designer PortalPlayer prices 6.25 million shares at $17, above the range

In a sign of very strong demand, fabless portable MP3 player chip designer PortalPlayer priced 6.25 million shares at $17 per share, above a recently raised range of $14-$16. There is a great deal of excitement surrounding this deal, as PortalPlayer is the key supplier of the audio chips incorporated into the hot selling Apple iPod family of portable music players. Citigroup and CS First Boston were the lead underwriters on the deal. The stock is expected to open for trading on Friday under the symbol "PLAY" on the Nasdaq Market.