- SunEdison (SUNE) plans to spin off its semiconductor business in an IPO and use the money to finance its solar operations and repay debt.
- SunEdison will sell a minority stake in the newly formed company, called SunEdison Semiconductor.
- The firm expects to file for the IPO this quarter and carry out the listing in early 2014.
- Shares sky 12.3%. (PR)
SunEdison to spin off semiconductor ops via IPO
Aug 22 2013, 08:48 ET