Inotera Memories, a DRAM-manufacturing venture between Micron Technology and Nanya Technology, will manage another fund raising plan for a syndicated loan of NT$25 billion (US$780.15 million) in 2010, according to company president Charles Kao.
Kao also asserted that Inotera is confident of completing its latest rights issue with backing of major shareholders Nanya and Micron.
Inotera's board of directors decided on January 6 to issue 640 million new shares at NT$22.5 per share between January 28 and February 3. The company expects to raise NT$14.4 billion in capital.
Inotera's share price on the Taiwan Stock Exchange (TSE) closed at NT$23.2 yesterday (January 26), compared to NT$28.2 on January 6.
Inotera was quoted in previous reports saying its 2010 capex is estimated at NT$52 billion, a significant rise from NT$13.2 billion allocated for 2009. The DRAM maker currently processes 100,000 wafers per month using 70nm-class process at its 12-inch fabs, and is set to convert all of its chip production (130,000 wafers per month) to 50nm in the fourth quarter.