Finance History|Nasdaq MarketSite — Fourteen Dollars for Thirty-Four Million Dutch Chip Shares
· 2010-8
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Finance History|Nasdaq MarketSite — Fourteen Dollars for Thirty-Four Million Dutch Chip Shares
kevin
People treat NXP as an Eindhoven chip house that always printed NXPI after a finished Nasdaq book.
The August 2010 issuer was NXP Semiconductors N.V., the Dutch successor of the semiconductor unit Royal Philips Electronics sold into a 2006 leveraged buyout.
A free-writing prospectus filed with the SEC on 5 August 2010 records an offering of 34,000,000 common shares at 14 U.S. dollars a share in 2010 dollars, with a stated trade date of 5 August 2010 and a closing date of 10 August 2010.
A Nasdaq release dated 11 August 2010 records that trading of NXPI commenced on 6 August 2010 and that the sale raised 476 million U.S. dollars in 2010 dollars.
A Reuters account of that Friday records that the shares closed flat at 14 U.S. dollars on Nasdaq.
The present tape is still NXPI on the Nasdaq Stock Market.
The mechanism is a cash initial public offering that put a still-private, debt-heavy Philips carve-out onto the Nasdaq tape under the letters it still uses.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that first printed NXPI.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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