AUSTIN, TEXAS-Freescale Semiconductor Inc. and parent company Motorola Inc. Friday announced the initial public offering of 121,621,622 shares of Freescale Semiconductor Class A common stock at a price of $13 per share, for a total offering of $1.58 billion. Freescale Semiconductor’s Class A common stock will be listed on the New York Stock Exchange under the symbol “FSL.”
Upon completion of the IPO, the Class B common stock owned by Motorola will represent 92 percent of the total voting power of Freescale Semiconductor’s common stock. Motorola will own all of Freescale Semiconductor’s outstanding shares of Class B common stock. Holders of Class A common stock are entitled to one vote per share, while holders of Class B common stock are entitled to five votes per share.
Freescale Semiconductor has granted the underwriters a 30-day option to purchase up to 18,243,243 additional Class A common shares at the IPO price. The global coordinator for the IPO is Goldman, Sachs & Co. The joint book-running managers are Goldman, Sachs & Co., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
