Freescale Semiconductor posts estimated terms for IPO

e14news — Thu, 07 Oct 2021 09:13:28 GMT

Current Revision posted to Documents by e14news on 10/7/2021 9:13:28 AM
Freescale Semiconductor Inc's parent company has published estimated terms for an increased initial public offering (IPO), the Wall Street Journal has reported.

The semiconductor company is seeking funds to repay debt.

Lately, Freescale has seen its financial performance improve as the chip industry has rebounded. Last month, for example, it reported its first-quarter loss narrowed as sales climbed 17 per cent.

It has announced plans to sell at least 43.5 million shares for $22 to $24 each, which would bring the deal's size to a maximum $1.2 billion if underwriters fully exercise their over-allotment option.

In other industry news, Fairchild Semiconductor, a leading global supplier of high performance power and mobile products, has announced the appointment of Terry Klebe to the company’s board of directors.

Mr Klebe was senior vice president and chief financial officer of Cooper Industries plc from 2002 until announcing his retirement in February 2010.

Posted by Simon Jones