Infineon to raise 1 billion euros with capital increase

FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen at its Austrian headquarters in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner

BERLIN (Reuters) – German chipmaker Infineon Technologies aims to raise about 1 billion euros ($1.1 billion) by issuing new shares to partially finance its $10 billion acquisition of U.S.-based Cypress Semiconductor, it said on Tuesday.

Infineon said its share capital would be raised by about 4% after a private placement with institutional investors.

Reporting by Emma Thomasson; Editing by David Goodman