Thursday, May 26, 2011

Freescale Up Slightly In IPO

Austin-based Freescale Semiconductor rose on its first day on the public markets, after debuting its IPO at $18.00 per share. The firm sold 43.5 million shares of its stock, trading on the New York Stock Exchange as FSL. The IPO was priced below its original, $22 to $24 initial public offering range. The firm closed up at $18.33. The IPO returns the firm to the public markets, after a 2006 private buyout by Blackstone Gorup, The Carlyle Group, Permira Advisors, and TPG Capital.