Hynix Semiconductor plans to begin meeting with prospective investors today in an effort to sell about $1.3 billion in existing and new shares, according to a report in the Wall Street Journal.

The Seoul, South Korea-based memory chipmaker plans to price the deal this month, according to the report, which quoted an unnamed person who was familiar with the deal. The company’s creditors have cancelled plans to issue bonds that are convertible into shares, the report said.

According to the report, the sale share will include 40 million existing shares held by creditors in a secondary deal and $300 million in new shares issued by Hynix.

By: DocMemory
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