Ending speculation about the location of the initial public offering for its memory chip affiliate, Qimonda, Infineon Technologies will hold the IPO at the New York Stock Exchange (NYSE) later this year.

Infineon's supervisory board accepted an executive board proposal to hold the IPO on the NYSE. Recent speculation had Infineon bringing its memory spinoff to an Asian stock exchange where most of Infineon's partners are located.

Shares will be registered with the U.S. Securities and Exchange Commission and will be offered publicly in the U.S. Infineon will also offer shares to institutional investors outside the U.S., the company said in a statement.

The IPO will seek a capital increase as part of the primary offering and the sale of Qimonda shares owned by Infineon as a secondary offering. Infineon said it will determine the exact date for the IPO based on market conditions. Infineon will retain the majority of Qimonda's shares.

Market liquidity and the relatively high weighting of technology and semiconductor stocks on U.S. indexes were cited by Peter Fischl, Infineon's chief financial officer, as reason for selecting the NYSE.

Infineon also announced that Qimonda CEO Kin Wah Loh has left his position on Infineon's management board to focus on his job post.