TAIPEI Oct 11 Taiwanese chipmaker Nanya
Technology Corp on Tuesday said the number of Micron
Technology Inc shares it will buy in an up to T$31.5
billion ($1 billion) private placement will be decided by its
U.S. partner around early November.
President Pei-ing Lee, at a news briefing with Nanya-Micron
joint venture Inotera Memories Inc, said Micron has
yet to determine the price of shares and size of the investment.
A maximum $1 billion investment would give Nanya around 5
percent of Micron, according to a Reuters calculation based on
Micron's current share price of around $17.50.
The investment would be part of Micron's restructuring of
its Taiwanese operations. In late 2015, Micron said it would
sell shares and licence technology to Nanya as part of a deal to
buy full control of Inotera.
Trading of shares in Inotera, which manufactures chips for
Micron, will end on Nov. 30 ahead of delisting on Dec. 6, said
Lee, who is also Inotera's chairman.
($1 = 31.4450 Taiwan dollars)
(Reporting by J.R. Wu; Editing by Christopher Cushing)