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IFX - Infineon Technologies AG News Story

€31.41 0.1  0.2%

Last Trade - 4:35pm

Large Cap
Market Cap £35.07bn
Enterprise Value £38.27bn
Revenue £8.59bn
Position in Universe 37th / 1054

Infineon launches 1.5 bln euro capital hike to help fund Cypress deal

Mon 17th June, 2019 5:37pm
FRANKFURT, June 17 (Reuters) - Infineon Technologies
 IFXGn.DE  said on Monday it was launching an accelerated
capital increase to raise 1.5 billion euros ($1.68 billion)
towards the cost of its planned acquisition of Cypress
Semiconductor  CY.O .
    The German chipmaker said in a statement that the offering
of new shares, by way of a private placement to institutional
investors, would increase its share capital by 10%.
    Separately, the bookrunner on the deal set price guidance
for the placement at 13.66 euros. Infineon shares closed earlier
on Monday in Frankfurt at 14.36 euros.
    Infineon said on June 3 it had agreed to buy Silicon
Valley-based Cypress for $10 billion, paying a 46% premium to
expand into next-generation autos and Internet technologies.*:nL8N23A0LS
 ($1 = 0.8904 euros)

 (Reporting by Douglas Busvine. Editing by Jane Merriman)
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