MagnaChip Semiconductor LLC, which will be converted into MagnaChip Semiconductor Corp., filed its plan for an initial public offering of up to $250 million of common stock. MagnaChip is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications.
The company intends to apply for listing of the depositary shares and the common stock on the New York Stock Exchange under the symbol "MX". The company said it has not yet determined number of shares to be sold and the price range for the proposed offering.
MagnaChip noted that all of the shares of common stock sold in this offering will be sold in the form of depositary shares. Each depositary share represents an ownership interest in one share of common stock.
The company plans to use approximately $12 million of offering proceeds to fund incentive payments to all of its employees, and remaining to fund working capital, and for general corporate purposes.
Goldman, Sachs & Co., Barclays Capital Inc. and Deutsche Bank Securities Inc. will serve as joint-bookrunners and Citigroup Global Markets Inc. and UBS Securities LLC will serve as co-managers in the proposed offering.
Avenue Capital Management II, L.P. is the majority unitholder of MagnaChip, and Funds and accounts managed by Southpaw Asset Management LP, Tennenbaum Multi-Strategy Fund SPV (Cayman) Ltd. also holding a notable stake.
MagnaChip disclosed in the filing that it has a history of losses and may not be profitable in the future. The company had filed a voluntary petition for Chapter 11 Bankruptcy on June 12, 2009 and its plan of reorganization became effective on November 9, 2009.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.