ProMOS relaunches and prices postponed GDR offering

Recovery in share price allowed for quick return to market; price is fixed at 8% discount after solid demand.

ProMOS Technology last night July 6 completed the follow-on GDR offering that it pulled from the market just three weeks ago, taking advantage of a slight recovery in the share price and positive momentum in the sector following two successful offerings by other memory chip makers over the past one and a half weeks.

The Taiwan DRAM manufacturer raised NT$10.75 billion $333 million from the sale of 100 million global depositary receipts, after an option to issue an...

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