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MagnaChip Semiconductor sets IPO terms

February 18, 2011
MX

MagnaChip Semiconductor, the former analog and mixed-signal semiconductor business of LG, announced terms for its IPO on Friday. The Luxembourg-based company plans to raise $152 million by offering 9.5 million ADSs at a price range of $15.00 to $17.00. At the mid-point of the proposed range, MagnaChip will command a market value of $649 million. MagnaChip, which was founded in 2004 and booked $770 million in sales last year, plans to list on the NYSE under the symbol MX. Barclays Capital, Deutsche Bank Securities and Goldman, Sachs & Co. are the lead underwriters on the deal, which is expected to price during the week of March 7.