Hynix Semiconductor will become the second-largest institutional shareholder at Taiwan 's ProMOS.

ProMOS announced that Hynix had purchased US$110.2 million worth of company shares via a private placement. The investment amount will translate to 8.59% stake at ProMOS. The agreed investment will be deposited to ProMOS on August 29.

ProMOS has issued 576 million shares at a per unit price of NT$6 in this private placement, versus the originally planned 640 million shares at NT$7.96 per share. Base on the closing price of ProMOS' shares at NT$4.6 on August 15, the settled price represents a 30% premium.

After securing investment from Hynix, ProMOS plans to introduce 54nm DRAM production in December, with volume production slated to follow late in the first quarter of 2009 at the earliest. Industry watchers expect ProMOS to first introduce its 54nm DRAM to the spot market and later to the contract market.

By: DocMemory
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