Memory module vendor Kingston Technology has subscribed to NT$3 billion (US$89.8 million) worth of new shares released by DRAM chipmaker Nanya Technology through a private placement, according to a Chinese-language Commercial Times report.

Memory module firm Adata Technology, and packaging and testing houses Formosa Advanced Technologies (FATC) and Walton Advanced Engineering have also subscribed to a portion of the new shares released by Nanya, said the report.

Nanya previously disclosed the company had set a price for 320 million shares to be released at NT$36.50 (US$1.11) per unit. Nanya will have a registered capital of NT$27.4 billion when the fundraiser is completed.

Nanya closed at NT$42.45 on the Taiwan Stock Exchange (TSE) on January 13, up NT$0.40 or 1%.