Inotera Memories Inc (華亞科技), a DRAM chipmaking venture between Micron Technology Inc and Nanya Technology Corp (南亞科技), yesterday said it has raised NT$6 billion (US$200 million) via a private placement.
Inotera sold 634 million shares at NT$9.47 per share, representing a 9.8 percent discount from the company’s closing price of NT$10.50 yesterday.
Nan Ya Plastics Corp (南亞塑膠), the plastics manufacturing arm of Formosa Plastics Group (台塑集團), said it subscribed to 422 million new common shares of Inotera for a total of NT$4 billion, while affiliate Nanya Technology subscribed to 211 million shares for NT$2 billion.
That boosted Formosa Plastics Group’s stake in Inotera to 35.53 percent — from 29.56 percent previously, including the 2.25 percent share owned by the group’s printed circuit board maker Nan Ya Printed Circuit Board Corp (南亞電路板) — equivalent to the stake held by Micron.
Inotera said it would use the proceeds to improve its financial structure and to replenish its operating capital.
Inotera plans to spend NT$4.5 billion on new equipment this year for its migration to 30-nanometer (nm) process technology. That does not include spending on further upgrading its technology to 20nm.
Inotera expects 30nm DRAM chips to account for 90 percent of its total input this quarter.