Taiwan chipmaker prices sector's second largest GDR

Inotera raises $421 million for aggressive capex plan and lifts foreign ownership of the stock in the process.

Taiwan-based memory chipmaker, Inotera Memories has completed its first GDR issue less than two months after listing on the Taiwan stock exchange û allowing international investors to own a part of its growth story.

The company, which was founded in early 2003 as a 50-50 joint venture between TaiwanÆs Nanya Technology Group and EuropeÆs largest chipmaker, Infineon Technologies, ended up raising $421.2 million that will help pay for equipment at its second fabrication plant that is currently under construction.

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