Wednesday, May 10, 2006
South Korea’s Hynix Semiconductor Inc. and its creditors plan to sell $2.1 billion in stock and bonds, according to an online report.
According to the report, which cites a document obtained by Bloomberg News, the sale would reduce banks’ stake in the memory chip maker to less than half.
Citing the document, the report said Hynix’s creditors, including top stakeholder Korea Exchange Bank, have asked investment banks to submit plans for creditors to sell 40 million shares of Hynix. Creditors may also sell another 22.6 million shares if there is sufficient demand, the report said
By: DocMemory
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