The European manufacturer of semiconductors NXP has finally unveiled the share price for its IPO. Set at $ 14, it is lower than the estimates should lead to a withdrawal of about $ 750 million, less than a billion dollars originally claimed.
We have known since April 2010 that the chipmaker NXP Semiconductors is planning a European entry to the New York Stock Exchange and registered with the SEC (Securities and Exchange Commission). The maneuver will bring new resources to the founder, in trouble with the competition very large U.S. groups, to reduce its debt.
The price and number of shares issued was not yet known, but estimates the IPO valued in the range of 18-21 dollars per share. NXP Semiconductors has unveiled today the criteria for this operation and it appears that the foundry will issue 34 million shares at a price lower than 14 dollars per unit with an opening on the market this Friday, August 6 and privileged access to 5,100 000 shares for investment banks which prepared the file.
Enrichment lowered
The Financial Times notes that the price of the share values NXP to 3.49 billion, or two billion dollars less than it was worth in 2006. If companies that have invested in these large groups in recent years they want to pass the stage of the IPO, the terms of introduction of high-tech companies, however, is currently in a phase of low, says the banks' business.
And the accumulated debt of 5.5 billion dollars does not make things easier. NXP produces electronic components for many different sectors of industry consumer and industrial. Not easy for European smelters to withstand enormous American groups at least to regroup, as did several smelters to give rise to ST-Ericsson.
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