NXP Semiconductors, a Dutch global semiconductor company that was spun off of Phillips Electronics in 2006, announced terms for its IPO on Thursday. The company plans to raise $663 million by offering 34 million shares at a price range of $18.00 to $21.00. At the mid-point of the proposed range, NXP Semiconductors will command a market value of $4.9 billion. NXP Semiconductors, which was taken private in a KKR- and Bain-led LBO, plans to list on the NASDAQ under the symbol NXPI. Credit Suisse, Goldman, Sachs & Co., and Morgan Stanley are the lead underwriters on the deal, which is expected to price during the week of August 2.
