The IPO is expected to raise two billion dollars and comes almost three months after the company first announced plans for the spin-off.

Motorola dubbed the unit SPS Spinco in the filing but said another name will be selected prior to the public offering, in a statement.

The Austin, Texas-based unit employs 23,000 workers and lost 400 million dollars on revenues of 3.5 billion dollars in the first nine months of 2003.

That compared with a loss of 1.8 billion dollars on revenue of 3.7 billion for the same period last year.

SPS Spinco's chips are used in cell phones, broadband modems and other communications devices, as well as in automobiles.

Motorola and its chip unit have struggled in recent years under a bloated cost structure and waning demand. Semiconductors have been pivotal to Motorola's fortunes as a global electronics company, but shifting industry dynamics have led to repeated calls for Motorola to cut the unit loose.

The Schaumburg, Illinois-based company resisted these calls during the semiconductor industry's worst-ever downturn, which began in 2001.

Under the lead of CEO Chris Galvin, a grandson of the founder of the 75 year-old company, Motorola slashed jobs and shuttered factories as it contracted out portions of its chip business.

However, the cost cuts weren't enough to rescue the chip unit's fortunes or to retain Galvin, who announced in mid-September his intention to resign due to differing views with the board over "the company's pace, strategy and progress."

Two weeks later Motorola announced its intention to spin off its chip unit.

SPACE.WIRE