Pre-IPO investors raise $59 million from Parade Technologies GDR

At a 9.3% discount the selling shareholders decide to dispose of fewer shares than initially planned.

Pre-IPO investors raise $59 million from Parade Technologies GDR

Three pre-IPO investors yesterday raised NT$1.76 billion $59 million from a fully marketed sale of global depositary receipts GDRs in Taiwan-listed Parade Technologies. The sale was well below the $120 million talked about at the launch after the underlying share price fell during marketing and the sellers decided not to sell as many shares as initially planned.

The GDRs were all backed by secondary shares, but the deal was supported by the...

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