Infineon’s decision to reduce equity interest in Qimonda took another step with the announcement that Infineon is to reduce the amount of American Depository Shares it holds in the company.  Infineon is to sell off 25 million ADSs, with a greenshoe option of 3.75 million more being offered for sale in the future. 

Should Infineon sell all of these shares, it would reduce the company’s stake in Qimonda to 77.5 percent.  Infineon Technologies Investment B.V., a wholly-owned subsidiary of Infineon Technologies AG, has announced its intention to issue a three-year exchangeable bond whereby holders would be entitled to receive Qimonda ADSs (1 ADS = 1 share in Qimonda) in lieu of cash.

By Síle Mc Mahon