Reuters reports:
Shares in South Korea's Hynix Semiconductor Inc. fell sharply on Thursday after a 23.4% stake in the company was sold by the Share Management Council, which represents Hynix's creditors. The shares were sold at a deep discount amid concerns over the industry's outlook. Creditors raised $1.91 billion, well below a target of $2.2 billion.
The company recently (July 2005) completed a four year debt restructuring plan. Weakness in DRAM prices is credited for some of the investor caution. No mention in the article about Hynix’s ongoing litigation with Rambus.
Read the complete article at reuters.com here.
Read an earlier (10/18/05) article in the New Zealand Heard which discusses the pending sale here.
H/T to Tomonthebus & FinztoRite.
Thursday, October 27, 2005
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment