NXP starts IPO process in USA

NXP B.V. announced that its holding company, which will be converted into a public company and named NXP Semiconductors N.V., has filed a registration statement with the Securities and Exchange Commission in the United States for a potential initial public offering of its common stock, a statement reads. The number of shares to be sold and the price range for the proposed offering have not yet been determined. After several cost-cutting measures, the company—the former chip-making arm of Philips—now has about 27,000 employees worldwide and posted sales of USD 3.8 billion in 2009.