Deals
Freescale’s Owners Seek IPO at 36% Discount to Buyout Price
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Freescale Semiconductor Holdings Ltd. is selling shares at a 36 percent discount to what private-equity owners paid as it attempts the biggest initial public offering of a U.S. technology company since Google Inc.
The chipmaker is offering 43.5 million shares for $22 to $24 each, compared with an average price of $36 that investors including Blackstone Group LP, Carlyle Group, Permira Advisers LLP and TPG Capital paid for Freescale, according to a filing with the U.S. Securities and Exchange Commission. The midpoint of the range would value the unprofitable company at about $5.5 billion.