hynix-returns-to-the-equity-markets

Hynix returns to the equity markets

Market environment forces smaller-than-anticipated deal; company to raise only $300 million.
Eight months after completing its last share offering, Hynix Semiconductor is back on the road with an equity deal that could raise as much as $1.4 billion based on yesterdayÆs closing price and the initial price guidance.

The main aim of the sale is to allow the banks which bailed the Korean chipmaker out of bankruptcy almost five years ago to cash in a bit more of their holdings - but Hynix is also taking the opportunity to raise fresh capital to support its expansion needs.

According to sources, the just over 40 creditors are offering to sell a combined 43.1 million shares, which is equal to 9.6% of the existing share capital and worth...
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