Thursday, October 7, 2004
MagnaChip Semiconductor, a maker of logic and camera sensor chips created by the sale of the non-memory operations of Hynix Semiconductor Inc., aims to list its shares on a U.S. stock market.
The company is owned by consortium put together by Citigroup, which paid US$828.4 million as part of a restructuring of Hynix.
MagnaChip, which was the system chip business unit within Hynix, has not set the timing for its listing, the report said, referencing a telephone conversation with Robert Krakauer, the company's chief financial officer.
"Our objectives are to grow the business aggressively, to acquire other companies and to go public in the future," the report quoted Krakauer as saying.
With projected annual sales revenue of about U$1 billion, MagnaChip is likely to be ranked at around 35 in the league of the world's largest chip companies.
By: DocMemory
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