Macronix prices GDR

First deal out of Taiwan after the electoral turmoil needs deep discount to fly.

Taiwanese chipmaker Macronix International braved the international capital markets yesterday morning becoming the first Taiwanese firm to raise equity after two weeks of political turmoil. The company raised $173.25 million through the sale of 13.125 million GDRs representing 525 million shares. The GDRs were priced at a discount of 9.92% to the closing price of the underlying shares on March 31.

Deutsche Bank was sole bookrunner on the deal and CSFB was co-lead manager. The deal...

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