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


FRANKFURT, June 17 (Reuters) - Infineon Technologies 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 .

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.

This article appears in: World Markets , Economy , Technology , US Markets , Stocks
Referenced Symbols: CY ,

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