Strong demand for Chartered Semiconductor's rights issue

The Singapore chip maker says the offer was 144% subscribed, which means Temasek's 59.4% stake will not change.

Chartered Semiconductor Manufacturing has become the latest Asian company to successfully raise fresh equity capital from a rights issue, allowing it to cover its maturing debt obligations and fund future capital expenditure, among other things.

The Singapore-based chip maker said on Thursday that its S$464 million $300 million offer was 144% subscribed, including excess applications. This means that Temasek, Chartered's controlling shareholder, will buy only its proportional entitlement and that its stake in the company will remain unchanged at 59.4%....

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