Hynix's recovery has been aided by forecasts of a chip boom
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South Korean chipmaker Hynix has finished the restructuring of its debts more than a year ahead of schedule.
The firm nearly collapsed as the chip industry faced meltdown in 2000-2001, but was rescued by its creditors.
The process of rescheduling the debts of 4.9 trillion won ($4.7bn; £2.7bn) was originally meant to take until the end of 2006.
The firm is now 81% owned by creditors, who are preparing to sell a third of their stake for about $2bn (£1.1bn).
The news of the stake sale plans sent the firm's shares down more than 4%.
The restructuring has seen Hynix dispose of almost all its non-core assets, leaving it tightly focused on the production of flash and dynamic RAM memory chips.
Despite severe fluctuations in demand since the chip glut of 2000-2001 saw the whole industry hit the buffers, demand is expected to be strong during the rest of 2005.
Such expectations have helped Hynix pay off its creditors earlier than expected by landing new loans and improving its credit rating, analysts said.
The firm has also settled long-running legal action in recent months.
April saw it agree to plead guilty to price fixing in the US, in conspiracy with several other companies, in exchange for a $185m fine.
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