Phison Electronics' board of directors has approved the issuing of up to five million new shares through private placement to raise fund for its operations and capital investment needs. According to Phison's closing share price of NT$240.50 (US$7.56) on the Taiwan Stock Exchange (TSE) on March 26, the NAND flash controller supplier is expected to raise NT$1.2 billion via the issue.
Phison has drawn investment from Toshiba, Hynix Semiconductor and Kingston Technology through previous private placements.
Phison's first-quarter revenues are likely to top NT$7 billion, a jump from NT$4 billion posted in the first quarter of 2009, according to company chairman Khein Seng Pua. The company aims to grow its revenues and market share in 2010, and maintain its full-year gross margin in the double digits.
Phison mainly supplies controller chips for USB drives, memory cards, solid-state drives (SSD) and embedded memory, with the products supporting 32nm- and 25nm-made NAND flash chips, and 3-bit per cell chips.