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Infineon Announces EUR 1.06 Bln Capital Raise

Infineon Technologies AG (IFNNY) said it raised about 1.06 billion euros by issuing new shares.

The company placed 55 million new shares, and carry full dividend rights as from 1 October 2019. The shares were placed at a placement price of 19.30 euros per share.

Infineon said it will use net proceeds from the capital increase to partially re-finance the purchase price for the acquisition of Cypress Semiconductor that closed on 16 April 2020.

Admission of the new shares for trading in the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange is expected to take place without a prospectus on 29 May 2020. Trading is expected to commence on 3 June 2020.

Infineon has decided to increase its share capital through partial utilization of its authorized capital under the exclusion of shareholders' subscription rights to 2.61 billion euros from 2.50 billion euros.

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