Credo Technology (CRDO) IPO Opens 21% Higher

Today's IPO for Credo Technology Group Holding Ltd (Nasdaq: CRDO) opened for trading at $12.10 after pricing 20,000,000 of its ordinary shares at a price to the public of $10.00 per share.

Goldman Sachs & Co. LLC and BofA Securities are acting as joint lead book-running managers for the offering. Cowen, Mizuho Securities, Needham & Company and Stifel are also acting as book-running managers. Craig-Hallum, Roth Capital Partners and Cathay Securities Corporation are acting as co-managers for the offering.

Credo is a leading provider of high-performance serial connectivity solutions for the hyperscale datacenter, 5G carrier, enterprise networking, artificial intelligence, and high-performance computing markets. Credo's solutions deliver the bandwidth, scalability, and end-to-end signal integrity for next-generation platforms requiring 25G, 50G, and 100G signal lane-rate connectivity for 100G, 200G, 400G, and 800G port-enabled networks.

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