Freescale Semiconductor Holding files for IPO

e14news — Thu, 07 Oct 2021 07:55:27 GMT

Current Revision posted to Documents by e14news on 10/7/2021 7:55:27 AM
Freescale Semiconductor Holding Ltd has filed with US regulators to raise up to $1.15 billion in an initial public offering (IPO), Reuters reports.

The firm makes chips for a wide range of uses, including cars, networking, and industrial and consumer products.

It confirmed that it would use all the proceeds from the IPO toward repayment of Freescale Inc's debt.

The filing revealed that Freescale Holding saw a net loss of $1.04 per share in 2010 from net earnings of 74 cents in 2009.

Although the firm refused to divulge too many details of the deal, it has been confirmed that underwriters of the offering are led by Citi and Deutsche Bank Securities.

This announcement comes after a report from Gartner found that the top ten companies in the semiconductors sector saw demand for their products exceed $100 billion (£63 billion) in 2010.

In all, $104.3 billion was spent on semiconductors as measured on the "total available market" metric.