Micware Prices Upsized IPO Of 2.85 Mln ADSs At $8 Each To Raise $22.8 Mln

India, May 14 -- Micware Co.(MWC), Ltd., a Japan-based automotive software developer, on Thursday announced the pricing of its upsized initial public offering of 2.85 million American Depositary Shares at $8 per ADS.

The offering is expected to close on or about May 15.

The company granted the underwriters a 45-day option to purchase up to an additional 427,500 ADSs to cover over-allotments.

The ADSs are expected to begin trading on the Nasdaq Global Market on May 14 under the ticker symbol "MWC."

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The company said that the gross proceeds from the offering are expected to total about $22.8 million before underwriting discounts and offering expenses.

Th...