Davis Polk advised Morgan Stanley & Co. International plc and Credit Suisse Securities (USA) LLC as joint bookrunners and representatives of the underwriters of an offering by RDA Microelectronics, Inc. (RDA) and certain selling shareholders of 7,500,000 American Depositary Shares, each representing six ordinary shares of RDA. The underwriters exercised their over-allotment option to purchase an additional 1,125,000 ADSs from RDA. Including the over-allotment option, the total proceeds of the offering were approximately US$72.2 million. The ADSs are listed on the Nasdaq Global Market under the symbol “RDA.”
Headquartered in Shanghai, China, RDA is a fabless semiconductor company that designs, develops and markets RF and mixed-signal semiconductors for cellular, broadcast and connectivity applications. RDA’s product portfolio currently includes power amplifiers, transceivers and front-end modules, Bluetooth systems-on-chip, FM radio receivers, set-top box tuners, LNB satellite down converters, analog mobile television receivers and walkie-talkie transceivers.
The Davis Polk team included partner James C. Lin and associates Stephen Takahashi, Mark Y. Li of the New York office and Ernest Lim. Partner John D. Paton and associates Alon Gurfinkel and Kent Heggerud of the London office provided tax advice. Associate Catherine L. Martin of the New York office provided 1940 Act advice. Partner Steven S. Weiner and associate Vishnu Reddy of the Menlo Park office provided intellectual property advice. Counsel Marcie A. Goldstein of the New York office provided FINRA advice. Ping (Clarice) Wei of the Beijing office and Jenny Zeng were the legal assistants on the transaction. Except as noted above, all members of the Davis Polk team are based in the Hong Kong office.
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