SAN FRANCISCO—X-Fab Silicon Foundries SE has filed for an initial public offering (IPO) on the Paris Euronext stock exchange, according to multiple reports.
X-Fab, which was the world’s fastest growing silicon foundry last year at 54 percent, plans to raise a total of about $530 million via two offerings on Euronext, according to the Bloomberg News Services. The report indicated that X-Fab plans to use the funds to production expansion globally.
X-Fab had approximately $510 million in sales in 2016 and is currently the tenth largest dedicated semiconductor foundry, according to market research firm IC Insights Inc. X-Fab is a specialty foundry that offers manufacturing for analog/mixed-signal chips.
According to an article by the Reuters news service, Belgian holding company Xtrion, X-Fab’s largest shareholder at roughly 61 percent, will not sell any of its shares of X-Fab in the IPO.
A spokesman for X-Fab could not immediately be reached for comment.