Infineon Technologies AG logo

IFX - Infineon Technologies AG News Story

€30.4 -0.1  -0.2%

Last Trade - 11:16am

Large Cap
Market Cap £34.05bn
Enterprise Value £37.25bn
Revenue £8.58bn
Position in Universe 37th / 1053

German watchdog suspects Infineon shares being offered for sale illegally

Mon 15th June, 2020 7:54pm
FRANKFURT, June 15 (Reuters) - German financial markets
regulator BaFin on Monday said that shares in chip maker
Infineon  IFXGn.DE  were being touted illegally using the
company's logo by an unknown investor who had failed to publish
an offer prospectus.
    "BaFin has reasonable grounds to suspect that shares of
Infineon Technologies AG are being publicly offered in Germany
by an unknown source without an approved prospectus having been
published," the regulator said on its Web site on Monday.
    Failing to issue a prospectus can be penalised with a fine
of up to 5 million euros ($5.66 million), BaFin said.
    Infineon said share offers had been made without the
company's consent.      
    “In the course of last week Infineon received various
requests from retail investors asking for guidance regarding an
offer made by certain companies, unknown to Infineon, to
purchase Infineon shares," the chip maker said.
    These offers used the Infineon logo, were made in the name
of Infineon as the seller and asked for a purchase price which
was significantly lower than the actual market price, Infineon
    "These offers were made without Infineon’s knowledge and/or
consent or authorisation," the company said in a statement.
"Infineon therefore suspects fraudulent activities by unknown
parties. Infineon notified BaFin about these activities and was
informed by BaFin today of similar activities concerning the
shares of other issuers." 
    Infineon currently has no plans to issue or sell further
shares or other equity instruments. 

($1 = 0.8839 euros)

 (Reporting by Joern Poltz
Writing by Edward Taylor. Editing by Jane Merriman)
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