Intersil Announces IPO of Common Stock

March 05, 2000 by Jeff Shepard

Intersil Holding Corp. (Palm Bay, FL) recently announced its initial public offering (IPO) of 20,000,000 shares of Class A common stock at $25 per share. The 20-million shares represents approximately a 22-percent stake in the company. With a total value of $500.0 million, Intersil's IPO is claimed to be the largest ever for a US-based semiconductor company.

Intersil further announced that it closed its first day of trading on the Nasdaq National Market at $54. The company priced an IPO of 20-million shares at $25 per share. The company opened the day at $37.