SAN FRANCISCO—Freescale Semiconductor Holdings I Ltd. said Wednesday (May 25) it plans to sell 43.5 million common shares at $18 per share in an initial public offering beginning Thursday.
Freescale had said earlier this month it would sell the 43.5 million shares for between $22 and $24 each, raising between $957 million and $1.04 billion. At $18 per share, the IPO would net Freescale $783 million.
Freescale is expected to begin trading Thursday under the symbol "FSL," the company said. The IPO is expected to close on June 1, the company said.
In connection with the offering, Freescale said it granted the underwriters a 30-day option to purchase up to 6.5 million additional common shares at the public offering price less underwriting discounts to cover
over-allotments, if any.
Freescale (Austin, Texas), a onetime spinout from Motorola Inc., was a publicly traded company before it was bought for $17.6 billion in 2006 by a consortium of private equity firms led by the Blackstone Group.