Memory module firms Kingston Technology and Adata Technology are looking to participate in DRAM maker Nanya Technology's upcoming capital increment plan, according to a recent Chinese-language Liberty Times report. Nanya will issue up to 320 million ordinary shares to raise cash.

Nanya is scheduled to complete its upcoming fundraiser around the middle of January 2016, said the report. Among the reported participants, Adata is expected to subscribe to about NT$1 billion (US$30.5 million) worth of new shares, the report indicated.

In response, Adata said its board of directors has not passed a resolution to join Nanya's fund-raising activity and no announcement related to such matters been made.

Nanya president Pei Ing Lee was quoted in previous reports saying the company plans to raise capital and draw strategic partners by the end of 2015. The proceeds would be used to convert Nanya's production to 20nm process.