Inotera Memories Inc (華亞科技), a joint venture between Nanya Technology Corp (南亞科技) and US memory chipmaker Micron Technology Inc, said yesterday it would raise US$312 million by offering new common shares to overseas investors at a 10 percent discount.
Inotera, which makes computer memory chips, said it planned to issue 64 million global depositary receipts at a price set at US$4.8757 per unit, which can be translated into NT$16.02 per common share, a company statement filed to the Taiwan Stock Exchange said.
Each GDR represents 10 common shares.
The filing was issued before the local stock market opened yesterday and Inotera’s offering price was 10 percent lower than the stock’s closing price of NT$17.8 on Thursday.
The price was initially set at NT$14.5 per share on June 18, the Taoyuan-based company said.
At the time, Inotera said the share offering would help finance its technological transition into stack technology from trench technology after it selected Micron last year as its new technological partner replacing German chipmaker Infineon AG, while improving the firm’s market competitiveness.
In yesterday’s Taipei trading, shares of Inotera opened 3.09 percent lower after the chipmaker unveiled the set price for GDRs. The decline deepened to 3.93 percent and the share price ended at NT$17.1, underperforming a 0.72 percent rise on the benchmark TAIEX.
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