Innolux prices Taiwan's largest GDR

The underlying stock trades up in the wake of the $1.35 billion offering, which was completed at a tight 2.7% discount.

Taiwan-based Innolux Display Corporation has raised $1.35 billion from its first ever sale of global depositary receipts GDR, which attracted a lot of interest because of the companyƆs unique integrated business model that makes it a sector leader in terms of profitability.

The deal is the largest GDR by a Taiwan issuer, exceeding a $936 million offering by China Steel in October 2003. It is also the largest equity deal by a Taiwanese company this year, aside from the...

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