MEMC Electronic Materials Inc, St Peters, Missouri silicon wafer maker previously wholly-owned by Veba AG via its Huels AG unit, got its initial public offering of 19.55m shares, all new, away at $24 a share, raising $469.2m gross and marking the fourth largest share issue this year. The company said that the net proceeds will be used to repay outstanding debt and for capital expenditures and investments in the firm’s joint ventures. Lead manager for the issue was J P Morgan Securities Inc.
Samsung Electronics America Inc launched a bond-style five-year $189m floating rate note issued at par to yield 35 basis points over the six-month London Interbank Offered Rate. It will list in Luxembourg, the arranger of the fund-raising exercise Standard Chartered Capital Markets said.
