Inotera Memories has completed the previously announced private placement of 633 million shares at a price of NT$9.47 (US$0.32) per share, raising gross proceeds of NT$6 billion, according to the company.
Nanya Plastics and Nanya Technology, two associated companies under the Formosa Plastics Group (FPG), contributed NT$4 billion and NT$2 billion, respectively, to take up all the new shares released by Inotera.
After completion of the private placement, the FPG will hold a 36.95% stake in Inotera compared to 29.6% held previously, while Micron Technology will see its stake in the Taiwan-based DRAM maker slide to 35.5% from 39.6%.
The private placement combined with improving profitability will help lift the net worth of Inotera's shares to NT$5 per share in the second quarter of 2013 compared to NT$3.9 in the previous quarter, according to industry sources.
Inotera is expected to generate net profits of NT$3 billion in the second quarter, the sources estimated.
In addition to producing commodity DRAM chips, Inotera plans to begin manufacturing memory chips for high-end servers and telematics devices in the second half of 2013 using a 30nm process, the sources revealed.
Inotera will also ramp up the ratio of mobile RAM chips to 15% of its total production by the end of 2013 compared to 10% currently, added the sources. The memory chipmaker has also set a capex budget of NT$4.5 billion for 2013.
Article translated by Steve Shen
