MagnaChip Tries Again for IPO
MagnaChip Semiconductor LLC, a South Korean maker of analog and mixed-signal semiconductor products for high-volume consumer applications, has filed for a $250 million IPO. It plans to trade on the NYSE under ticker symbol MX, with Goldman Sachs, Barclays Capital and Deutsche Bank Securities serving as co-lead underwriters.
The company previously filed for a $575 million IPO in late 2007, but later pulled the offering due to “unfavorable market conditions.” It would later file for Chapter 11 bankruptcy, wiping out shareholders Citigroup Venture Capital, CVC Asia Pacific Ltd. and Francisco Partners.
Avenue Capital Group currently holds a 70.3% ownership stake. www.magnachip.com
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