Chi Mei heralds return of panel producers to equity markets

TFT-LCD manufacturer returns to the GDR market for the first time since October 2003.

Taiwan's Chi Mei Optoelectronics raised $751 million from a GDR offering via lead manager Morgan Stanley after New York's close on Thursday June 10. The company issued 50 million units including the greenshoe, which was exercised in full.

Pricing came at $15.02 per unit, equating to a local share price of NT$47. In turn, this represented a 4.7% discount to the stock's NT$49.40 close in Taiwan earlier the same day. One unit equals...

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