Creditors to pick lead manager for Hynix sale this month

SEOUL, Nov. 12 (Yonhap) -- Creditors of Hynix Semiconductor Inc. said Wednesday
they plan to name a lead manager for the sale of the world's second-largest
computer memory chipmaker.
A group of nine creditors with a combined 36-percent stake in the chipmaker on
Tuesday approved the proposal by Hynix's main creditor, Korea Exchange Bank, to
sell their stake.
The creditors agreed in September to the sale of their shares in Hynix
Semiconductor, seven years after it was bailed out.
The sale of Hynix will depend on market and industry conditions, they said.
Hynix reported its fourth straight quarterly loss in the third quarter of the
year as weak chip prices and write-off costs sank its bottom line.
It logged a 1.65 trillion won (US$1.23 billion) net loss in the July-September
period, compared with a profit of 168 billion won a year earlier.
Shares of Hynix Semiconductor were trading at 10,750 won on the Seoul bourse as
of 10:30 a.m., up 5.39 percent.
sam@yna.co.kr
(END)