Allegro MicroSystems slips after stock offering priced
** Allegro MicroSystems' ALGM.O shares down 0.4% at $24.59 early Thurs after stock offering priced
** Sensor integrated circuits provider late Weds announced 25 mln shares at $24 for $600 mln gross proceeds
** ALGM shares on Weds fell 10.7% to $24.70
** Manchester, N.H.-based Allegro to use net proceeds, along with cash or loan facility borrowings, to repurchase ~38.8 mln shares from majority shareholder Sanken Electric Co 6707.T
** Post offering and repurchase, Japanese semiconductor firm Sanken holds ~33% stake (approx 59.7 mln shares)
** With move on the session, ALGM shares off ~19% YTD and off 50% over the past 12 months
** Barclays, Morgan Stanley and UBS leading the stock offering
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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