ProMos encounters tough audience

The Taiwanese DRAM manufacturer has to offer a wide discount to clear its debut GDR.

Under the lead management of Goldman Sachs, ProMos Technologies priced a 300 million new share offering last Friday at a 20% discount to a spot close of NT$21, raising proceeds of $146 million.

The deal was said to have closed marginally oversubscribed, with a fairly even distribution split between the three regions and a book that comprised virtually all new investors to the company. However, no-one doubts that the transaction was an extremely difficult one and many...

To continue reading, please login or register for free

Click for more on: promos | encounters | tough | audience

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...