Infineon Technologies Launches Capital Increase, Targets About EUR1 Billion
May 26 2020 - 12:57PM
Dow Jones News
By Cristina Roca
Infineon Technologies AG has decided on a capital increase and
targets gross proceeds of about 1 billion euros ($1.09 billion), it
said Tuesday.
The Frankfurt-listed company said it will increase its capital
by about 4% by issuing new no-par value ordinary shares against
cash.
The shares will be offered in a private placement which will
take place via accelerated bookbuilding and start immediately,
Infineon said.
The proceeds from the transaction will be used to repay part of
the loans that Infineon entered in order to finance its acquisition
of Cypress Semiconductor Corp., the company said.
Trading of the new shares should start on June 3. The new shares
will carry full dividend rights starting Oct. 1, 2019, Infineon
said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
May 26, 2020 12:42 ET (16:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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