First Asian ADR of 2003

The Taiwan tech company completes a two times oversubscribed ADR.

Taiwan integrated semiconductor and packaging company, ASE yesterday priced an accelerated bookbuilt ADR. The deal opened at 3pm and was reported to be fully subscribed after an hour, although the book remained open until 9pm Asian time to give US-based clients a chance to place orders.

The $87 million ADR can claim the honour of being the first Asian ADR of 2003 and was two times oversubscribed. The sole bookrunner was Goldman Sachs. The offering was...

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