Two US-based private equity firms (PE), KKR and Bain, are going to sell their stakes in NXP. The two have taken this decision so that they are able to raise enough cash which can then be used to return to the investors or pay back the huge pile of debt that has come up.

NXP is a Dutch semiconductor company which was taken over by the two PE companies way back in 2006. And now, through stake sale they expect to raise close to $1 billion. Stake sale will use the IPO route for raising money, people close to the development said.

The firms want to use the improving conditions of the stock markets and are trying hard to convince the users of the deal. It is believed that the price of the IPOs will be decided months before the actual listing takes place.

As of now, no details about the same have been given.

Meanwhile, in another report which appeared in CNBC, it was said that KKR and Bain are also going in for IPO of HCA Inc. They plan to raise $4.5 billion through the hospital chain.