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Creditors reportedly to sell Hynix stake by December

Posted: 14 Oct 2005     Print Version  Bookmark and Share

Keywords:hynix  hynix semiconductor  korea  memory  flash 

Hynix Semiconductor Inc. reportedly said Wednesday (Oct. 12) that its creditors plan to sell a 23 percent stake in the company by the end of next month, according to several published reports.

EE Times reported in July that creditors of the South Korean chip company were set to sell about 24 percent following the early completion of a four-year debt restructuring process, according to a Reuters report.

According to a Wednesday Bloomberg report, creditors may sell between 60 and 75 percent of the $2.4 billion worth of Hynix shares to overseas investors in the form of global depositary receipts. The remaining shares may be sold to local investors, Hynix reportedly said.

According to Bloomberg, the sale of 23 percent of Hynix would be the second-biggest Asian technology equity offering so far this year.

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