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IPOs

Anda Networks Withdraws IPO Filing

Anda Networks today decided that continuing with its current IPO plans would be like parachuting into a live volcano.

The San Jose-based equipment maker just quietly withdrew its $100 million initial public offering because of unfavorable market conditions, according to a filing with the Securities and Exchange Commission. The company, co-founded by Wu-Fu Chen, its current chairman, originally filed to go public in August (see Wu-Fu Chen ).

Anda makes multiservice access platforms for telecom service providers. Its product consists of a chassis, service and interface cards, and software that lets service providers deliver voice and data over a single access network. The company says its product reduces service providers' investment in legacy equipment by allowing four subscribers to share each port on an existing Class 5 switch.

Anda has raised at least $96 million in venture funding to date (see Anda Completes $70M Round). Last year it lost $12.1 million, and during the first six months of 2000 it lost $27.1 million.

-- Phil Harvey, senior editor, Light Reading http://www.lightreading.com

TimothyLong 3/20/2020 | 5:02:45 AM
Yes Anda Networks take the right step Yes Anda Networks take the right step at the right time and all also appreciating this initiative by the network.I am quite in touch fo all the latest updates.
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