FRANKFURT (AFX) - Infineon Technologies AG plans to list its loss-making Qimonda memory chip unit before this summer, industry sources told the Sueddeutsche Zeitung in an article that appeared in the paper's Saturday edition.
These sources said chief executive Wolfgang Ziebart wants to list Qimonda on the Nasdaq exchange because it met with greater investor interest in New York during a 2005 roadshow than in Asia.
During a press conference last Friday Ziebart said he did not want to list Qimonda during the 'summer lull' leading to speculation that the IPO would be delayed until this autumn.
Qimonda is the world's fourth-largest memory-chip manufacturer, with 2005 sales of 2.826 bln eur.
In the fiscal first quarter of this year, Infineon's memory chip unit posted a loss before interest and tax of 118 mln eur on sales of 678 mln. alfred.kueppers@afxnews.com amk/bam COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited