Electronics Production | August 09, 2006
Qimonda announces IPO on NYSE
Infineon Technologies AG and Qimonda AG, together with the lead underwriters, fixed in New York today the initial public offering price and the issue size of Qimonda's initial public offering (IPO).
The initial public offering price is US $ 13 per American Depository Share (ADS). American Depositary Shares (ADSs), each representing one ordinary share of Qimonda, will be trading on the New York Stock Exchange (NYSE) under the symbol "QI" beginning on August 9th. 42 million ADSs will be placed in the market, representing an aggregate issue size of US $ 546 million. In addition, Infineon is providing an over-allotment option of 6.3 million ADSs (15 percent of the ADSs offered) that can be placed in the offering. "We received strong participation from many of the most prominent institutional investors in the US, largely in response to their enthusiasm for Qimonda's new business strategy," said Kin Wah Loh, President and CEO of Qimonda AG. "However, we also encountered a challenging market environment which has seen almost half of all planned IPO's since July 1st withdrawn from the marketplace."
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