May 22 Shares of SunEdison Semiconductor Pte Ltd
rose as much as 17 percent in their debut, valuing the
manufacturer of silicon wafers at about $615.5 million.
The IPO raised about $93.6 million after 7.2 million
ordinary shares were priced at $13 each, the low-end of the
expected price range.
Solar company SunEdison Inc decided to spin off its
semiconductor business last year to focus on the high-margin
solar power business amid persistent low demand for its
Shares of SunEdison Semiconductor opened at $15 and touched
a high of $15.25.
Deutsche Bank Securities and Goldman Sachs & Co are the lead
book-running managers for the offering.
(Reporting by Avik Das in Bangalore; Editing by Sriraj