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Cambridge Silicon Radio may net £50m from float

IPO confirmed as tech rebounds?

Tags: cambridge silicon radio

By Jo Best

Published: 27 January 2004 12:35 GMT

The tech sector - and wireless in particular - could well be showing the green shoots of recovery, if Cambridge Silicon Radio is anything to go by.

The wireless-chip maker, which produces hardware used in half of Bluetooth-enabled phones, announced on Monday that it intends a 25 per cent flotation during the first quarter of this year.

The flotation could net CSR more than £50m in new funding and may well see some of the company's original investors - which include Sony, Intel and venture capitalists 3i - jumping ship.

CSR showed a healthy full-year turnover last year of nearly £37m, producing two quarters of profitability and a massive year-on-year increase in earnings, after signing up new customers such as Nokia and IBM.

Is CSR's float the most exciting IPO of the year? Let us know by taking our quick poll here.

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