Chipmaker X-Fab Silicon Foundries is looking to raise money via an initial public offering (IPO) to fund its global expansion.

The Germany-based company, which has a fab in Malaysia, has filed for an IPO on the Paris Euronext stock exchange. The goal is to raise about $530 million, the company said in a statement. The funds raised will be used "to finance expansion capex, focusing on capacity and capability enhancement while strengthening its capital structure in line with industry participants," according to the company.

X-Fab said it plans to list shares on the Euronext Paris exchange in a primary offering of new shares worth €250 million ($262.57 million) as well as a secondary offering that could raise another €250 million ($262.57 million), depending on the valuation afforded those shares.

The company's largest shareholder, Xtrion, will not sell any of its shares in the IPO, X-Fab noted. Xtrion current holds 61.4% of X-Fab's existing shares.

X-Fab, a specialty foundry offering manufacturing services for analog and mixed-signal chips, had approximately $510 million in sales in 2016 and is currently the 10th largest dedicated semiconductor foundry, according to market research firm IC Insights.

In Asia, X-Fab Sarawak Sdn Bhd, had in 2015 begun investing $114 million in its wafer fab in Kuching, Sarawak, Malaysia. Late last year, the company said it would acquire Altis Semiconductor, a specialty stand-alone foundry that was facing insolvency proceedings. X-Fab had then said the acquisition would help the company nearly double its 8-inch capacity.