Infineon Technologies Raised Around EUR1 Billion to Partly Fund Cypress Acquisition
By Mauro Orru
Infineon Technologies AG said late Tuesday that it has raised
about 1.06 billion euros ($1.16 billion) through a share placement
to finance the equity portion of the acquisition of Cypress
The German chip maker said it placed 55 million new shares at a
price of EUR19.30 a share, and that the order book for the
placement was oversubscribed.
"Already last year we announced our intention to finance around
30% of the transaction value with equity. Following the first share
placement and the issuance of the hybrid bond last year we have
slightly surpassed this target now," Chief Financial Officer Sven
The announcement came on the same day that Infineon Technologies
launched a cash capital increase with a target of approximately
EUR1 billion to repay part of the loans Infineon entered into to
finance the acquisition of Cypress Semiconductor Corp.
Write to Mauro Orru at email@example.com; @MauroOrru94
(END) Dow Jones Newswires
May 27, 2020 01:42 ET (05:42 GMT)
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