LONDON MagnaChip Semiconductor, a spinoff from Hynix Semiconductor Inc. that filed for bankruptcy protection in June 2009, has now filed documents with the U.S. Securities and Exchange Commission related to a proposed initial public offering (IPO) of stock.
MagnaChip Semiconductor LLC, which makes analog and mixed-signal ICs in two fabs in South Korea, plans to raise up to $250 million, it said in Form S-1. The number of shares to be sold and the price range for the proposed offering have not yet been determined. At the time the company sought bankruptcy protection South Korea's KTB Securities Co. Ltd. acquired MagnaChip and its affiliates, in a deal valued at about $80 million.
Goldman, Sachs & Co., Barclays Capital Inc. and Deutsche Bank Securities Inc. will serve as joint-bookrunners and Citigroup Global Markets Inc. and UBS Securities LLC will serve as co-managers in the proposed offering, MagnaChip said.
The company filed for an IPO in 2007 with an offering value of up to $575 million but did not follow through.
Related links and articles:
MagnaChip files bankruptcy, acquired by fund
Specialty foundries expand their wings
MagnaChip files IPO