Freescale Sets IPO Terms

PE-backed Freescale Semiconductor has set the terms of its IPO of 43.5 million common shares at an expected price range of between $22 and $24 apiece. Freescale provides embedded semiconductors and plans to list on the NYSE under the symbol FSL. Citigroup Global Markets and Deutsche Bank are leading the underwriting. A consortium of investors, which included The Blackstone Group, The Carlyle Group, Permira and TPG Capital, took the company private in a 2006 buyout and is not selling stock as part of the offering.