SunEdison shares surged, trading at $7.91 at 11:30 am in New York, after hitting a session high of $8.35, up from Wednesday’s $6.81 close.
In a statement, SunEdison says it plans to sell a minority share in its semiconductor unit to the public. SunEdison Semiconductor will operate as an independent company with a new board, it says.
The IPO is scheduled by early 2014.
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