Public Exits

MagnaChip Semiconductor LLC, a South Korean maker of analog and mixed-signal semiconductor products for high-volume consumer applications, has withdrawn registration for a $575 million IPO, citing “unfavorable market conditions.” It had planned to list its stock on the NYSE, with Goldman Sachs, UBS and Credit Suisse serving as co-lead underwriters. The company was formed in 2004 via the $828.2 million carve-out of Hynix Semiconductor’s non-memory semiconductor operations by Citigroup Venture Capital, CVC Asia Pacific Ltd. and Francisco Partners.

Tensar Corp., an Atlanta-based construction services company, has withdrawn registration for a $201.25 million IPO. It had planned to trade on the NYSE, with Lehman Brothers, Credit Suisse and Merrill Lynch serving as co-lead underwriters. Tensar shareholders include Arcapita (86.3 percent), Electra Private Equity (6.3 percent) and KRG Capital Partners. Tensar offers products and technologies for projects like high-performance roadways, earth retention structures, building foundations and erosion control.