Premier GDR clicks with investors

Taiwanese camera manufacturer Premier Image Technology has managed to get a debut GDR away after offering investors attractive pricing.

In the face of difficult market conditions, the deal was priced almost at the very bottom of its indicative range and slightly scaled back in size to ensure a full order book. Led by ING Barings, the company raised $56.4 million rather than the $80 million it had been hoping for and reduced a greenshoe consisting of five million old shares to one million.

In total, the company offered 25 million new shares, where five shares equal...

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