Jazz Semiconductor Inc. on Wednesday withdrew its initial public offering of up to $150 million in common stock, according to a filing with the Securities and Exchange Commission.
The Newport Beach-based company said the registration statement was being withdrawn because of "market conditions." The IPO originally was filed with the SEC on Jan. 21.
Jazz Semiconductor, which was spun off from Conexant Systems Inc., is a contract manufacturer of chips.
Credit Suisse First Boston, Lehman Bros., SG Cowen, Wachovia Securities, Thomas Weisel Partners and Needham & Co. were listed as underwriters for the offering.