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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63596)	5/10/2002 12:08:45 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Powerchip Raises $149 Million Selling New Shares (Update1) By Paul Scanlon quote.bloomberg.com Taipei, May 10 (Bloomberg) -- Powerchip Semiconductor Corp., Taiwan's second-largest maker of memory chips for computers, raised about $149 million selling new shares to global investors, said a banker at Deutsche Bank AG, the arranger of the sale. The company sold 343 million shares at NT$15 apiece, said Philip Southwell, head of equity capital markets in Asia. That's a 12 percent discount to their close yesterday of NT$17 and 45 percent less than the close on the day the company announced the sale in March of NT$27.40. Powerchip raised the money to help pay for equipment at a new plant that will make 300-mm wafers, larger than standard 200-mm disks, reducing costs by as much as a third because more chips can be cut from them. Chip prices have more than trebled since early November, after personal-computer makers started adding more memory to enable the machines to run Microsoft Corp.'s new software. Powerchip's net income for the first quarter rose 60 percent to NT$610.8 million ($18 million).