far eastern group

The deal, which is upsized by 38%, comes as the Taiwanese cement producer's share price hits a three-year high.

The Asia Cement offering is the fourth equity-linked bond by an Asian issuer this week and the second out of Taiwan.

The final price of HK$4.95 represents a 36% discount to the company's larger competitor Anhui Conch Cement, but some investors hold off with the aim of buying in the secondary market.

The spin-off from Taiwan's Far Eastern Group is seeking to raise up to $310 million which will go towards aggressive capacity expansion.