Beceem, the mobile broadband chip maker files for IPO

Beceem Communications Inc., the mobile broadband chip maker is intending to initially sell its common shares up to 74.5404 million EUR in an public offering. While registering with Securities and Exchange Commission, the company said that it is looking for a listing on NASDAQ which is a computerized data system providing brokers with price quotation for secured trading over the counter.

Santa Clara company in California, realizes the growing popularity of mobile broadband, as most of the people wish to connect to the web on the go and the technology persist to be an practical option for several places across the globe. 

Since the inception of Beceem in 2003, it showed losses, because of its revenue couldn't hold up to the operating expenses. But in the year 2009, the company made a triple revenue hitting up to 30.5932 million EUR from the prior year. Barclays Capital Inc., and Barclays Capital Inc., are the joint booking managers acting along with underwriters viz Thomas Weisel Partners and Needham & Company.