CUPERTINO, Calif. and SEOUL, South Korea, March 16, 2011 /PRNewswire via COMTEX/ --

MagnaChip Semiconductor Corporation ("MagnaChip Semiconductor") (NYSE: MX) today announced that it has closed its previously announced initial public offering of 9,500,000 shares of common stock at a price to the public of $14.00 per share. Of the 9,500,000 shares sold, 950,000 shares were sold by MagnaChip Semiconductor and 8,550,000 shares were sold by selling stockholders.

Barclays Capital Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co. served as joint-bookrunners and Citigroup Global Markets Inc. and UBS Securities LLC served as co-managers in the offering.

A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission on March 10, 2011. A copy of the final prospectus relating to this offering may be obtained from:

• Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847 or by e-mail at Barclaysprospectus@broadridge.com;

• Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, or by telephone at 800-503-4611 or by email at prospectus.cpdg@db.com;

• Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 866-471-2526, by fax at 212-902-9316 or by e-mail at prospectus-ny@ny.email.gs.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About MagnaChip Semiconductor

Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise.

SOURCE MagnaChip Semiconductor Corporation