News
 

Bookmark and Share

(0) 

Infineon Technologies AG and Qimonda AG announced Friday that Qimonda, a wholly owned subsidiary of Infineon, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering of Qimonda’s shares. The announcement is inline with Infineon’s strategy to withdraw from the market of memory.

Qimonda and Infineon plan to offer 63 million of shares, each priced between $16 and $18, which represents the offer size between $1 and $1.1 billion. Of the 63 million shares, 21 million (approximately 33%) will be offered for sale by Infineon and 42 million shares will come from a capital increase (approximately 67%) by Qimonda, which hopes to get between $672 million and $756 million to invest into its manufacturing facilities as well as research and development.

An over-allotment option of up to 9.45 million additional shares (about 15% of all) will also be available from Infineon. Assuming completion of the offering and a full exercise of the over-allotment option, Qimonda’s free float will be approximately 21%, which means that the company’s market capitalization will be about $4.8 – $5.4 billion.

The Qimonda ADRs will be offered to institutional and retail investors in the and to institutional investors outside the USA. The ticker symbol for Qimonda on the New York Stock Exchange will be QI.

Earlier it was reported that Needham & Co. said in a research note that Micron would buy Infineon’s U.S. memory assets and Nanya, Taiwan’s second-largest memory chip maker, would buy its non-U.S. memory assets, including Infineon’s flagship plant in the German city of Dresden. The assumption does not find evidences in present IPO, however, both companies still may acquire stakes in Qimonda.

Credit Suisse, Citigroup and JPMorgan will act as joint book-running managers for the offering. Co-lead managers of the transaction are ABN Amro Rothschild, Deutsche Bank Securities and Hypovereinsbank.

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Monday, April 14, 2014

8:23 am | Microsoft Vows to Release Xbox 360 Emulator for Xbox One. Microsoft Xbox One May Gain Compatibility with Xbox 360 Games

Tuesday, April 1, 2014

10:39 am | Microsoft Reveals Kinect for Windows v2 Hardware. Launch of New Kinect for Windows Approaches

Tuesday, March 25, 2014

1:57 pm | Facebook to Acquire Virtual Reality Pioneer, Oculus VR. Facebook Considers Virtual Reality as Next-Gen Social Platform

1:35 pm | Intel Acquires Maker of Wearable Computing Devices. Basis Science Becomes Fully-Owned Subsidiary of Intel

Monday, March 24, 2014

10:53 pm | Global UHD TV Shipments Total 1.6 Million Units in 2013 – Analysts. China Ahead of the Whole World with 4K TV Adoption

10:40 pm | Crytek to Adopt AMD Mantle Mantle API for CryEngine. Leading Game Developer Adopts AMD Mantle

9:08 pm | Microsoft Unleashes DirectX 12: One API for PCs, Mobile Gadgets and Xbox One. Microsoft Promises Increased Performance, New Features with DirectX 12

3:33 pm | PowerVR Wizard: Imagination Reveals World’s First Ray-Tracing GPU IP for Mobile Devices. Imagination Technologies Brings Ray-Tracing, Hybrid Rendering Modes to Smartphones and Tablets

2:00 pm | Nokia Now Expects to Close Deal with Microsoft in Q2. Sale of Nokia’s Division to Close Next Month