DRAM company Qimonda to raise up to $750 million in IPO
Qimonda, the spun off DRAM arm of Infineon, announced that it has filed for an initial public offering (IPO) on the the New York Stock Exchange (NYSE). The company will sell 63 million American Depositary Receipts (ADRs) in a price range of $16 to $18. Qimonda expects the IPO to result in proceeds between $ 672 million and $ 756 million, which will be used to finance investments in its manufacturing facilities and research and development, the company said.
The ticker symbol for Qimonda will be QI. Quimonda did not provide an exact date of the expected IPO.