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Infineon plans to raise $1 billion

Posted on Saturday, July 11 2009 @ 05:02:32 CEST by

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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