Wednesday, March 16, 2011

MagnaChip Semiconductor Closes IPO

Cupertino-based MagnaChip Semicondutor has closed its IPO, the firm said Wednesday, offering up 9,500,000 shares of its common stock at $14.00 per share. The firm's IPO was underwritten by Barclays Capital, Deutsche Bank Securities, Goldman, Sachs & Co., Citigroup Global Markets, and UBS Securities. The firm debuted in its IPO on Friday as MX. MagnaChip's stock was flat post IPO, as the markets and the semiconductor industry have been trying to digest the impact of tsunami, earthquake, and nuclear crisis on the industry.