Agere Systems, a Lucent spin-off which makes semiconductors and optical components used in optical, wireless, data/voice networks and PC equipment, changed the terms for its upcoming IPO yet again. The company is now offering 600 million shares at a downwardly revised range of $6-$7 and expects to raise $3.9 billion in proceeds from the offering. Agere had originally planned to offer 370.1 million shares at $15-$20, then narrowed down the range to $16-$19. In an amendment to its registration statement, Agere then revised the terms to 500 million shares at between $12-$14 . Morgan Stanley Dean Witter will lead manage this deal, which is scheduled to price some time next week.
