The Schaumburg, Ill., tech giant set final plans in a
Securities and Exchange Commission
filing Monday to distribute to shareholders its remaining stake in the Austin, Texas, chip company. Motorola shareholders will receive 0.110415 Freescale Class B share for each outstanding Motorola share held as of last Friday.
Motorola arranged last fall for the initial spinoff of Freescale shares, and the company said Nov. 9 it was planning the final distribution. Freescale had operated as a wholly owned unit of Motorola since the 1950s.
Freescale Semi came public in July after Motorola decided to focus more closely on wireless systems and phones. The IPO raised $1.58 billion, and Freescale's Class A shares have continued on an upward track since, rising 33% off their $13 offering price.
The more numerous Class B shares hold most of the voting power in the company.
Freescale rose 28 cents Monday to close at $17.37. Motorola added 44 cents to close at $19.44.