Inotera raises $418 million in block

The Taiwanese wafer manufacturer priced a GDR sale at the bottom end of the price range, with hedge funds making up the majority of the book.

Inotera raises $418 million in block

Inotera Memories raised $418 million in an accelerated block trade on Friday after pricing some 40 million global depository receipts at the bottom end of the range.

The Taiwanese wafer manufacturer a joint venture between Nanya Technology Corp and US semiconductor maker Micron Technology sought to tap equity markets with a GDR sale at a time when its shares are trading at an all-time high.

The GDRs priced at $10.46 each,...

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