Allegro MicroSystemsa semiconductor company, has applied for approval from the Securities and Exchange Commission (SEC) for an initial public offering. Upon approval, Allegro's common stock will be listed on the Nasdaq Stock Market under the ticker 'ALGM'. The public offering by prospectus will be underwritten by a consortium of banks led by Barclays, Credit Suisse Group and Wells Fargo & Co. The company has estimated a compound annual growth rate of 10.8% in the automotive sector and 8.1% in the industrial markets by 2024.
