Formosa Plastic Group (FPG), the parent company of Nanya Technology, plans to take up new shares that Inotera Memories will release in a private placement, according to industry sources.

The speculation comes on the heels of Inotera announcing the decision made by its board of directors to issue up to 2.4 billion new shares for sale to the target investors.

FPG and Micron Technology had an equal stake in Inotera until February 2012, when Micron acquired the majority of new Inotera shares issued through a private placement. The share purchase allowed Micron to increase its stake in Inotera to 40%, and become the largest shareholder of the Taiwan-based company.

FPG is expected to raise its share in Inotera to about the same level as Micron, when Inotera's upcoming private placement is completed, the sources believe.

Inotera said in a company filing with the Taiwan Stock Exchange (TSE) that the proceeds of its proposed private placement will be used to improve its financial structure and increase working capital.

In other news, Inotera's board decided not to deal out any dividend for 2012. The company suffered net losses of NT$15.54 billion (US$525.9), or NT$2.95 a share, in 2012.