Chartered Semiconductor Manufacturing Ltd, the Singapore-based chip foundry, has filed with the Securities and Exchange Commission to raise up to $517.5m in an initial public offering. The company plans to sell 150 million shares of common stock in the US and Canada at $16 to $18 each, the regulatory filing said. As part of the offering, Chartered will simultaneously sell 15 million shares in Singapore.
Chartered is the world’s third-largest semiconductor foundry and boasts a customer list that includes Hewlett-Packard Co, Lucent Technologies Inc, Broadcom Corp and Conexant Systems Inc. The company said it would use the proceeds of the offering to expand its manufacturing facilities and to make equity contributions to jointly-owned fabs. For the first six months of this year, Chartered lost $48m on revenue of $294m. á
