Taiwan's manufacturer of memory chips (DRAM), Nanya Technology will triple profits in the second quarter thanks to the sale of Micron shares and the rise in prices for memory, according to DigiTimes.

Between June 16 and 29, 2017, Nanya sold about 12 million Micron securities at a price of $ 30-32 per share and expects the deal to bring the company approximately $ 167 million.

In the first quarter of 2017, Nanya received a net profit of 3.28 billion Taiwan dollars (107.5 million dollars), which is 77.1% more than a year ago. Market observers expect that in the second quarter the company's revenue will exceed 9 billion Taiwan dollars (295 million US dollars).

At the end of 2016, Nanya reported the completion of the investment process in Micron. At that time, the Taiwanese company had 56.5 million shares of American, which corresponded to 5.11% of the share capital.

The money earned from the sale of a stake in Micron, the company Nanya intends to spend on the payment of debts and increase in working capital. At the same time, Micron and Nanya will continue to cooperate and implement joint projects.

The purchase of Micron shares by Nanya was one of the terms of the buyout agreements by the US manufacturer Inotera Memories. In December 2016, Micron paid about $ 4 billion to purchase a 67 percent stake in Inotera, while the whole company was estimated at $ 6 billion.