UPDATE 1-MagnaChip to raise up to $123.8 mln in IPO

* Says each depositary share to represent 1 common share

* Says to offer 7.5 mln depositary shares

* Says offer price $15.50-$17.50/shr

* Says to be listed on NYSE under the symbol “MX”

June 16 (BestGrowthStock) – Korean chipmaker MagnaChip
Semiconductor LLC filed with U.S. regulators on Wednesday to
raise up to $123.8 million in an initial public offering of
common shares.

All common shares in the offering will be sold as
depositary shares and each depositary share will represent one
common share, the analog and mixed-signal chipmaker said.

The company, whose chips are used in flat-panel displays
and smartphones, said it will offer 7.5 million depositary
shares at a price between $15.50 and $17.50 for each share.

The company said it is offering 1.5 million shares and
selling stockholders are offering 6 million shares.

MagnaChip said its stock will be listed on the New York
Stock Exchange under the symbol “MX.”

The company told the U.S. Securities and Exchange
Commission that Goldman Sachs, Deutsche Bank Securities,
Barclays Capital, Citi, and UBS Investment Bank were
underwriting the IPO.

Stock Market Investing
(Reporting by Vinay Sarawagi in Bangalore; Editing by Jarshad
Kakkrakandy) (([email protected]; within U.S.
+646 223 8780; outside U.S. +91 80 4135 5800; Reuters
Messaging: [email protected]))

UPDATE 1-MagnaChip to raise up to $123.8 mln in IPO