Morgan Stanley has led its second US technology initial public offering (IPO) this year with Atheros Communications, a semiconductor company, which it priced above the top of its bookbuilding range.

The range was initially set between $9.50 to $11.50 but Atheros filed an amended prospectus with the US Securities and Exchange Commission (SEC) to raise the price to between $11.50 and $13.50. Morgan Stanley set the issue price above the top of the revised range at at $14, valuing the total offering at $126m (€98m).