Fabrinet, which provides foundry services to OEMs and sells application-specific bulk optical materials, announced terms for its IPO on Monday. The Cayman Islands-based company plans to raise $111 million by offering 8.5 million shares at a price range of $12-$14; 5.7 million shares will be sold by insiders. At the mid-point of the proposed range, Fabrinet will command a market value of $447 million. Fabrinet, which was founded in 2000 and booked $379 million in sales last year, plans to list on the NYSE under the symbol FN. Morgan Stanley and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of June 21st.
