Winbond Electronics has announced a plan to issue up to 360 million news shares through private placement to fund its expansion and repay debts according to company spokesperson Wilson Wen.

The fund-raising plan requires approval at Winbond's annual shareholders meeting on June 18. The memory chipmaker could raise about NT$3.2 billion (US$101 million) via the issue, based on its closing share price of NT$9.02 on the Taiwan Stock Exchange (TSE) on March 30.

Winbond needs to repay debts worth NT$7.6 billion in 2010, and half of the amount will be paid off in the first half of the year, Wen said.

Winbond's total 12-inch monthly capacity is estimated at 32,000 wafers, of which 3,000-4,000 units are for commodity DRAM, Wen indicated. The company aims to lower its sales proportion from commodity DRAM to 10% in 2010, and gradually phase out the business.

By: DocMemory
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