AU roadshows ADR

Presentations began in Hong Kong yesterday (Monday) for the fourth Taiwanese company hoping to list on the New York Stock Exchange.

AU Optronics, Taiwan's largest manufacturer electronic flat screen panels is hoping to ride out the current volatility besetting the Taiwan Stock Exchange with lengthy three-week roadshows, which will wrap up by Thursday May 23 when its 500 million share deal is provisionally scheduled to price.

With Salomon Smith Barney as lead manager, the company is offering a 50 million unit deal of all new shares, with a seven million unit greenshoe of secondary shares. Representing 17% of the company's outstanding share capital, the deal will raise $688 million based on Monday's closing share price of NT$47.6.

Presentations continue again today in Hong Kong, moving to Singapore Wednesday and Thursday, then Tokyo Friday. The following...

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