SGS-Thomson Microelectronics NV is going public by making a global share offering to raise between $441m and $483m by offering 21m shares, 9.6m of them new, 9.6m from SGS-Thomson Microelectronics Holding II BV and 1.79m from Thorn EMI Plc and an affiliate – shares Thorn took in exchange for Inmos International Plc. Application has been made for the shares to be listed in New York and Paris and they are expected to be quoted on London’s SEAQ International. Net proceeds will be used for capital expenditures and working capital. Underwriters are Morgan Stanley & Co Inc as global coordinator, supported by Indosuez Capital and Lehman Brothers.
