Mergers and Acquistions News
Categories: Semi-Conductors
January 6th 2009, 15:56PM
Europe's second largest chip maker Infineon Technologies is looking to raise up to €450 million (£410 million) through a share issue, it has been revealed.
German firm Infineon will seek approval for the move from existing shareholders at its annual general meeting, set for February 12th.
In a statement, the firm revealed that the move is aimed at protecting the company's equity base in light of the current financial crisis.
The company said: "It is intended to create an additional authorised capital with a value of up to €450 million to issue new shares against contributions in cash and/or contributions in kind."
Recently, Infineon agreed to support a rescue deal for its memory producing subsidiary Qimonda.
The company contributed €75 million to a package worth a total of €325 million.
Recently, the largest memory chip maker in Japan announced it was looking at possible mergers in order to challenge Samsung's global dominance of the market.
Bloomberg reported that the company was in discussions with a number of firms based in Thailand.
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