CSR gives top value of £239m for floatation

Bluetooth company Cambridge Silicon Radio (CSR) has announced the value of its flotation, giving a range of 160p to 200p per share.

The per-share value now indicates that the company is worth between £192m and £239m, with the float worth between £54m and £68m. The final price will be fixed on 25 February, with dealing in the shares beginning the next day. Credit Suisse First Boston will be managing the share issue.

The wireless company has been doing well of late, with CSR posting their first profit of $17.5m in the third quarter of 2003 and achieving a 154 per cent rise in turnover - to $44.2m - in the last six months of 2003, compared to the corresponding period the year before.

silicon.com readers, among others, will be watching the IPO closely. When Google was excluded, 16 per cent of readers voted CSR's flotation the most exciting IPO of 2004.

CSR provides about half the world's 50 million Bluetooth units sold every year.