Chipmaker Astera Labs files for US IPO

By Thomson Reuters Feb 21, 2024 | 5:19 AM

(Reuters) -Chipmaker Astera Labs filed for an initial public offering in the United States on Wednesday.

The U.S. IPO market is expected to rebound this year after a two-year lull fueled by the Federal Reserve’s interest rate hikes and geopolitical uncertainty, amid growing expectations of a soft landing.

Santa Clara, California-based Astera will list its shares on the Nasdaq Global Select Market.

Morgan Stanley and J.P. Morgan Securities are the lead underwriters for the offering.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak Dasgupta)