Chip maker Infineon announced a capital increase on Tuesday. In the course of the corporate action, the subscription rights of the existing shareholders will be excluded, and Infineon will place the new unit certificates with institutional investors. The share capital is to be increased by around 4 percent. With the capital measure, the DAX-listed group wants to collect around one billion euros from investors. The money will be used to replace loans from the acquisition of Cypress Semiconductor Corporation.
“The new shares will only be offered to institutional investors as part of a private placement using an accelerated bookbuilding process. The private placement will begin immediately after this announcement, ”said Infineon on the expiry of the capital increase. The placement price has not yet been determined.
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