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Public offering of 25M NXP shares priced

NEW YORK (AP) -- Dutch chip maker NXP Semiconductors NV said Friday that a public offering of 25 million shares of its common stock has been priced at $37.65 per share.

The price represents a 1 percent discount to the company's closing stock price of $38.02 on Thursday. NXP shares fell 52 cents, or 1.4 percent, to $37.50 in morning trading Friday.

The shares will be sold by some of the company's major shareholders including affiliates of funds managed or advised by Kohlberg Kravis Roberts & Co., AlpInvest Partners BV, Apax Partners LLP, Bain Capital Partners LLC and Silver Lake Technology Management LLC, NXP said.

The offering is expected to close on Wednesday. NXP will not receive any proceeds.

Morgan Stanley & Co. LLC is the offering's underwriter.