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Infineon: 3Q sales slip 18 pct from year ago
Published in Saudi Press Agency on 16 - 07 - 2009


German computer chipmaker Infineon
Technologies AG said Thursday that its revenue for the most
recent quarter fell 18 percent as customers placed fewer
orders, AP reported.
The company said sales for the quarter that ended June 30,
its fiscal third, totaled ¤845 million ($1.2 billion)
compared with ¤1.03 billion a year earlier.
The figures were disclosed in a prospectus outlining plans
to raise ¤725 million in new capital through the issuance
of 337 million new shares from July 20 to Aug. 3.
Infineon is scheduled to release its complete
third-quarter results July 29. Its shares were up nearly
12.5 percent to ¤3.51 in Frankfurt trading.
Last week, the Neubiberg-based company said Apollo Global
Management LLC, agreed to acquire about 326 million of the
shares which will be issued at a subscription price of
¤2.15.
Apollo, which is based in New York, is expected to hold a
minimum of 15 percent of Infineon share capital after the
rights issue, up to a maximum shareholding of 30 percent,
minus one share. Apollo would also get added Infineon
supervisory board representation with a 15 percent
investment.
Infineon intends to use the money to repay debt and
strengthen its liquidity position.


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