Polysilicon producer OCI prices GDR at 2.7% discount

The Korean company raises $700 million from the largest Asian GDR since 2007.

Polysilicon producer OCI prices GDR at 2.7% discount
Polysilicon should grow as demand for photovoltaic (PV) solar power installations are projected to more than double to 41.9GW by 2015. (AFP)

OCI Company, a Korean specialty chemicals producer, accelerated the pricing of its $700 million global depositary receipts GDR offering last week on the back of strong demand and a drop in the price of polysilicon, one of its key products.

Initially set to close tomorrow, OCI and its bankers managed to price the deal on Friday last week. It is the largest GDR issue by an Asia ex-Japan issuer since Taiwan’s Innolux Display Corp raised...

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