Freescale Files for $1.15 Billion IPO

Freescale Semiconductor Inc.’s parent company filed to raise up to an estimated $1.15 billion in an initial public offering, seeking to repay debt with the proceeds.

The provider of embedded chips for the automotive, consumer, industrial and networking industries had been expected to launch plans to go public early this year. The IPO market has gotten off to a relatively strong start this year after seeing activity rebound in 2010.

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