Sat, Feb 25, 2006 - Page 10 News List

Inotera to launch IPO next month at NT$33 per share

GOING PUBLIC With the memory chipmaker's sales last year quadrupling to NT$23 billion, the firm thinks the time is ripe for a public share offering

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Inotera Memories Inc (華科科技) plans to raise NT$6.6 billion (US$203 million) in an initial public offering.

The company plans to sell 200 million shares at NT$33 each to investors in Taiwan, Inotera president Charles Kau (高啟全) said yesterday. The Taoyuan-based chipmaker is 90 percent-owned by Nanya Technology Corp (南亞科技) and Infineon Technologies AG, Europe's largest chipmaker. Inotera expects to complete the sale by March 10 and list the stock on the Taiwan Stock Exchange on March 17, Kau said.

The IPO price represents a 6.8 percent discount to the NT$35.4 price that the stock was last traded at on Emerging Stocks, according to the GRETAI Securities Market Web site. GRETAI manages Emerging Stocks, a preparatory board for shares yet to list on the nation's two main stock exchanges.

Inotera also plans to sell shares overseas this year, Kau said.

Sales of Inotera -- which employs more than 1,400 people and produces dynamic random access memory chips -- almost quadrupled to NT$23 billion last year, according to Taiwan Stock Exchange data.

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