Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
First snow to fall in Seoul on Wednesday
-
4
Man convicted after binge eating to avoid military service
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
9
Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
-
10
Job creation lowest on record among under-30s
S. Korean chipmaker Magnachip to be sold to Chinese PEF for $1.4b
By YonhapPublished : March 29, 2021 - 13:44
South Korean chipmaker Magnachip Semiconductor Corp. has said it will be sold to a Chinese private equity fund for about $1.4 billion.
Magnachip, listed on the New York Stock Exchange (NYSE), recently announced that it has signed an agreement with Wise Road Capital Ltd. and its partners to sell its entire shares.
"Magnachip's management team and employees are expected to continue in their roles, and the company will remain based in Cheongju, Seoul and Gumi, South Korea," the company said. "The transaction is expected to be seamless for customers and employees across Magnachip's businesses."
Magnachip shareholders will receive $29.00 in cash for each share of the company's common stock they currently hold, according to the chipmaker
The deal is expected to be finalized by the second half of 2021.
In 2004, Magnachip was spun off from Hynix Semiconductor Inc., currently SK hynix Inc., the world's second-largest maker of DRAM chips.
The company is best known for manufacturing OLED display driver integrated circuits. It was listed on the NYSE in 2011. (Yonhap)
Magnachip, listed on the New York Stock Exchange (NYSE), recently announced that it has signed an agreement with Wise Road Capital Ltd. and its partners to sell its entire shares.
"Magnachip's management team and employees are expected to continue in their roles, and the company will remain based in Cheongju, Seoul and Gumi, South Korea," the company said. "The transaction is expected to be seamless for customers and employees across Magnachip's businesses."
Magnachip shareholders will receive $29.00 in cash for each share of the company's common stock they currently hold, according to the chipmaker
The deal is expected to be finalized by the second half of 2021.
In 2004, Magnachip was spun off from Hynix Semiconductor Inc., currently SK hynix Inc., the world's second-largest maker of DRAM chips.
The company is best known for manufacturing OLED display driver integrated circuits. It was listed on the NYSE in 2011. (Yonhap)
![[More than APT] Residents, architects together design homes](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/11/24/20241124050036_0.jpg&u=)
