Japan-based Elpida Memory has announced that it has obtained approval from the Taiwan Stock Exchange (TSE) and other relevant agencies for its Taiwan depositary receipts (TDR) listing on the TSE, and may begin trading on February 25.
Elpida plans to issue 200 million units of TDR, each of which will represent 0.05 common shares of the company, to raise a total of about NT$4.36 billion (US$150 million). The new funds will be used for R&D of the company's next-generation DRAM manufacturing process.