FarEastone brings GDR

Taiwanese cellular operator paves the way for main board listing with $130 million deal.

FarEastone Telecom FET, Taiwan's second largest cellular operator by number of subscribers, surprised the Asian equity markets yesterday January 12 with a 7.33 million unit GDR offering. The deal was timed to take advantage of positive share price momentum following news that FET has purchased a 55.3% stake in telecommunications equipment designer Arcoa Communications.

However in the absence of a regulatory filing, the deal was also unexpected. Its accelerated passage to market was made...

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