Infineon's having a 60m new shares fund raiser

Should put $1.4bn in the pot

Infineon is raising cash by selling up to 60 million new shares, which Bloomberg reckons will be worth E1.7 billion ($1.4 billion).

The shares will be priced on 12 July and start trading on 13 July.

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.