Shares in Qimonda, the memory chips unit of German semi-conductors giant Infineon, are to be priced at 13 dollars (10.16 euros) apiece when they are floated on the New York Stock Exchange on Wednesday, Infineon announced.
With a total 42 million new shares in Qimonda being issued as part of the initial public offering (IPO), the flotation would raise 546 million dollars in fresh financing for the memory chip maker, Infineon said.
Initially, Infineon had hoped to issue some 63 million shares at a price of 16-18 dollars, raising 1.0-1.1 billion dollars.
The parent company could still issue a further 6.3 million shares in a so-called "greenshoe" or over-allotment option if demand proved sufficient, Infineon added.
"We received strong participation from many of the most prominent institutional investors in the US, largely in response to their enthusiasm for Qimondas new business strategy," said Qimonda chief executive Kin Wah Loh.
"However, we also encountered a challenging market environment which has seen almost half of all planned IPOs since July 1 withdrawn from the marketplace."
