 Four years later MEMC acquired Albemarle Corporation's granular polysilicon production facility in Pasadena, Texas, which had been producing granular polysilicon since 1987.MEMC's stock began trading on the New York Stock Exchange with an initial public offering in 1995.The IPO raised over $400million, which went to finance an aggressive growth plan and repay some of the debt to its parent company, and Hüls/VEBA retained a majority interest in the company.