Qimonda IPO expected to raise $1.3B USD by September 2006
Infineon today announced plans to list its chip producing spin-off Qimonda onto the New York Stock Exchange (NYSE). This news comes as a surprise to many because analysts had expected Infineon to list within Taiwan or China, where such firms were prominent and investors pumped money into that industry in large amounts.
DailyTech previously reported that Infineon had made a big exit out of the memory industry because of volatile prices as a main concern. In its decision, the comapny decided that it would launch a new spin-off called Qimonda. The new company, while still having a large investment from Infineon, will operate as an independent organization.
The decision to list Qimonda on the NYSE is due to potential cash flow. Infineon expects the initial public offering to reach approximately $1.3B USD by September. According to analysts, the IPO will give Qimonda an initial investment on the same scale as many of the world's global companies that are also listed on the NYSE. Both Infineon and Qimonda believe that with the funds, Qimonda will turn into a leading class memory company. Interestingly, Intel and Micron launched a joint company called IM Flash Technologies several months back to produce NAND based flash memory products.
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