MagnaChip Announces Proposed Secondary Offering of 7M Shares of Common Stock

MagnaChip Semiconductor Corporation MX today announced that, subject to market conditions, certain of its stockholdersintend to offer and sell 7,000,000 shares of MagnaChip's common stock in an underwritten registered public offering. In addition, the selling stockholders intend to grant the underwriters of the common stock an option to purchase an additional 1,050,000 shares of common stock. MagnaChip will not receive any proceeds from the sale of its common stock by the selling stockholders.