Sequans Communications will raise around $77 million in an initial public offering (IPO) of American Depositary Shares (ADS). The French 4G chipmaker will be selling 7.7 million of ordinary shares at $10 per unit. The company will not receive any proceeds from the sale of ADS. The shares will be traded on the New York Stock Exchange. The joint book-running managers for the offering are UBS Investment Bank and Jefferies.

Click here for the release from Sequans.