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Infineon raises $1.3bn

It's what you need when your sales drop 30%

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Infineon has raised 1.5 billion euros ($1.31 billion) by selling 60 million new shares.

Infineon expects to report a pre-tax loss as high as E600 million ($512 million) for its Q3 ending 30 June.

Chip price crashes, excess inventories, and slow mobile-phone sales have caused its sales to fall by 30 per cent in the quarter. ®

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