Infineon offers 337million shares
Infineon Technologies plans to raise €725million by issuing up to 337million shares to US financial investor Apollo Management.
This would make Apollo the majority shareholder in the German chipmaker and, if all are taken, it would equate to 29% of the company's shares - making Apollo Infineon's largest shareholder.
According to a report in Financial Times Deutschland, the deal was enforced by Infineon's ceo Peter Bauer and supervisory board chairman Max Kley.
Infineon has stated that it would use the proceeds to repay debt and strengthen its liquidity position. The move follows Monday's announcement that Infineon was to sell off its wireline communication unit to US investor Golden Gate Capital.
