KKR’s NXP Raises $476 Million After Cutting IPO Price

NXP Semiconductors NV, the Dutch chipmaker owned by KKR & Co. and Bain Capital LLC, raised $476 million after cutting the price of its U.S. initial public offering by as much as 33 percent.

NXP, acquired by KKR, Bain and three other private equity firms in a $9.4 billion leveraged buyout in 2006, sold 34 million shares at $14 each after offering them for $18 to $21, according to Bloomberg data and a Securities and Exchange Commission filing. The Eindhoven, Netherlands-based company will use proceeds to repay debt.