News Column

BRIEF: SunEdison Semiconductor IPO could happen next week

May 16, 2014

By Jacob Barker, St. Louis Post-Dispatch

May 16--SunEdison Semiconductor Ltd.'s initial public offering could happen next week, officially separating O'Fallon-based SunEdison Inc.'s solar business from its legacy semiconductor segment.

Bloomberg reports shares for the IPO are expected to be priced Wednesday, setting up a public sale in the following days. SunEdison Semiconductor plans to offer 7.2 million common shares and expects a price of $13 to $15 per share.

The semiconductor segment spinoff will be based in Singapore, but SunEdison Inc. will remain its majority shareholder. The semiconductor business will maintain U.S. offices in O'Fallon.

SunEdison's longtime partner and customer, Sumsung Electronics Co. will be investing $33.9 million in the semiconductor business through a private placement of shares. Separately, a joint venture of Samsung and SunEdison will also buy $100 million worth of stock through the private placement.

Last year, the former MEMC Electronic Materials Inc. changed its name to SunEdison, its solar unit, and decided to separate its semiconductor business from the solar segment.

Jacob Barker is a business reporter at the Post-Dispatch. Follow him on Twitter @jacobbarker and the Business section @postdispatchbiz.


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Source: St. Louis Post-Dispatch (MO)