Taiwanese solar cell maker seeks $200 million from GDR

Motech Industries is hoping that by adding more international shareholders to its register and diversifying upstream, the company's valuation will be lifted.

While several Chinese solar power companies are raising funds through US listings, TaiwanÆs Motech Industries will seek international capital through an offering of global depositary receipts GDR. The company is currently on the road trying to drum up support for the deal.

Motech is offering 18 million GDRs, with each unit equal to one new common share, or 12.5% of the company. Based on FridayÆs closing price this suggests a total deal size of up to NT$7.35...

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