Wednesday, February 9, 2011
Japan's Elpida Memory Inc. has obtained the approval to list on the Taiwan Stock Exchange (TSE).
Elpida will list in the form of Taiwan Depositary Receipts (TDRs), which represent the common shares of the DRAM company. The company hopes to raise $150 million, according to reports.
Citing stagnant demand for PC DRAMs due to sluggish PC shipments, Japan's Elpida Memory recently reported a net loss of 29.6 billion yen ($363.1 million).
Elpida has deep ties in Taiwan. Taiwan's Powerchip Technology Corp. has recently exited the DRAM market, and transferred the business over to Japan's Elpida Memory Inc.
Elpida had a foundry agreement with Powerchip for DRAMs and purchases half of what Powerchip manufactures at their fabs in Hsinchu, Taiwan. Elpida also has a majority stake in Taiwan DRAM maker Rexchip Electronics Corp.
By: DocMemory
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