The sale of about 54 million existing and new shares at 26,500 won each in Hynix, the world's No. 2 maker of memory chips, raised 1.4 trillion won ($1.47 billion), the main creditor, Korea Exchange Bank, said on Sunday.

The 54 million shares represent about 12 percent stake of the firm's enlarged number of shares of issue.

The pricing of the deal marked a smaller-than-expected 2.2 percent discount from Friday's closing price for Hynix shares. Analysts had expected a discount of 5 to 9 percent.

It also compared with a 7.9 percent discount on the previous stake sale by creditors in October, when shares were sold at 19,300 won each and $1.9 billion was raised.

Expectations of better earnings at Hynix from its bread-and-butter computer memory chips, known as dynamic random access memory (DRAM), led to the smaller discount, analysts said.

By: DocMemory
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