MagnaChip seeks IPO after bankruptcy
MagnaChip Semiconductor
LLC has announced that it has filed a registration statement on Form S-1 with
the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed
initial public offering of its common stock.
The shares of common stock to be sold in the offering are expected to be
offered by MagnaChip Semiconductor and certain of its
stockholders. 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. The number of
shares to be sold and the price range for the proposed offering have not yet
been determined.
The Korean based
manufacturer had previously filed for an IPO in 2007 but the recession scuppered
those plans and the company filed for Chapter 11 bankruptcy protection in June
2009. They completed the bankruptcy with less debt and a new board of directors
last November.
A registration statement
relating to these securities has been filed with the SEC but has not yet become
effective. These securities may not be sold nor may offers to buy be accepted
prior to the time that the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction.
The offering will be made
only by means of a prospectus. Copies of the preliminary prospectus related to
the offering may be obtained, when available, from the prospectus departments
of:
