Infineon plans to raise $1 billion

Posted on Saturday, July 11 2009 @ 5:02 CEST by Thomas De Maesschalck
Chip maker Infineon plans to issue up to 337 million shares at a combined value of 725 million euros (about $1 billion) to Apollo Global Management:
In order to achieve the Apollo entry, Infineon plans to issue up to 337 million shares at a combined value of €725 million (about $1 billion). The sum is much higher than Infineon's current financial requirements which could have been almost covered by the recent sale of its wireline business. Apollo could take at least 15 percent, possibly up to 30 percent of Infineon's shares.

With the move, Apollo would become Infineon's largest shareholder. Currently the largest shareholder is Dodge & Cox International Stock Fund with holdings of 10.03 percent.


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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