German wafer manufacturer Siltronic raised $316 million to support growth.

Siltronic stated that the company has raised 273 million euros to support long-term growth and strengthen its balance sheet as the company seeks to expand in the semiconductor market. The German wafer manufacturer announced that it has completed a capital increase through an accelerated bookbuilding process that excluded shareholder subscription rights. Wafers are used in the manufacturing of semiconductor chips. The new shares were issued at a price of 91 euros per share, raising a total of 273 million euros. The company also added that this transaction was an international private placement aimed at institutional investors and was significantly oversubscribed.