Freescale Semiconductor has raised $783 million through an initial public offering (IPO), Financial Times reports. The private equity-owned chipmaker, which sold 43.5 million shares for $18 each, had expected to raise over $1 billion through the share sale, adds Reuters. The proceeds are expected to be used to repay the unsecured portion of Freescale’s $7.6 billion long-term debt. Citigroup and Deutsche Bank Securities led the underwriters on the offering.
Click here for the story from Financial Times.
Click here for the additional coverage from Reuters.