Elpida Memory has approved plans to raise up to JPY79.67 billion (US$994 million), including a rights issue and convertible bonds (CBs).

The funds raised will go towards equipment upgrades for 30nm and 25nm process manufacturing and R&D of next-generation technologies.

Elpida's board approved issuing 57.27 million common shares for about JPY52.2 billion, and also plans to float CBs worth up to JPY27.5 billion.

Elpida said the additional capital will be mainly used for new facilities at its Hiroshima plant for volume production using 25nm and 30nm processes, as well as installation of TSV (through-silicon via) processes and R&D of its next-generation node technologies for memory products. Elpida will also use a portion of it to repay part of the company's outstanding loans due March 2012.

Elpida is expected to see 30nm account for 75% of its total DRAM capacity, including capacity at its contract manufacturers, by the end of the first quarter, 2012, up from about 15% at present, according to industry sources.

By: DocMemory
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