Motech completes GDR offer at 2.3% discount

The solar cell manufacturer raises $210.8 million to diversify upstream through a deal that will significantly increase its international ownership.

Solar cell manufacturer Motech Industries has raised $210.8 million from its first ever sale of global depositary receipts after pricing the fully marketed offering at a 2.3% discount to its underlying Taiwan-listed stock.

Motech's share price fell 2.9% on Thursday before the GDR was priced, closing below the NT$400 level for the first time in three-and-a-half months, which at first glance would suggest a lower price for the issuer. However, the bookrunners cleverly tightened the guidance after the local...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition

EVENTS