Under the terms of its initial public offering on the Swiss stock exchange in Zurich, the majority owner of Austriamicrosystems, the private equity company Permira Private Equity Fund will sell 2.635 million of its shares, with the company issuing another 2 million new shares.
The deal will value the Schloss Premstätten, Austria-based semiconductor maker between CHF 582.9m ($455m) and CHF 748m ($584m).
The IPO should raise between CHF 254.4m ($198.5m) to CHF 326.4m ($254.7m), based on the price range of CHF 53 ($41.29) to CHF 68 ($52.98).
The company has decided to list on the Zurich exchange rather than its native Vienna exchange because Switzerland’s banks offered excellent research on technology stocks and better access for international investors, according to chief executive John Heugle.
Founded in 1981 as Austria Mikro Systeme, the company in 1993 became the first semiconductor IDM in Europe to go public. But in 2000, Permira Private Equity Fund became the majority owner and returned the company to private status.
Austriamicrosystems designs and makes high performance analog and analog-intensive mixed-signal integrated circuits (ICs) tailored for specific customer applications. Its products are used in the automotive, communications, industry & medical, and full service foundry markets.
It has 800 employees based in offices across Europe, America and Asia.
This article is based on material originally published by ComputerWire
