PortalPlayer, the sole supplier of audio chips for Apple’s iPod, raised a more-than-expected US$106.25 million during its initial public offering on Thursday. PortalPlayer’s IPO priced 6.25 million shares at $17 per share. “The iPod has enjoyed substantial success and will probably continue to do so,” said Daniel Gelbtuch, an analyst with CIBC World Markets Corp., “and PortalPlayer will be the primary beneficiary.” PortalPlayer’s shares are expected to trade under the symbol “PLAY.”
