Chartered Semiconductor launches equity smash

Chartered Semiconductor has launched a secondary share sale of new and existing shares to raise $1.8 billion.

Chartered Semiconductor, the Singaporean computer chip manufacturer, today launched a massive new equity issue.

The sale is a combination of new shares issued by the company and existing shares held by the government and various customer shareholders.

The sale hopes to raise some $1.8 billion, which represents some 15.68% of the fully diluted issued share capital.

There is a 15% over-allotment option or greenshoe included in the deal as well.

The roadshow for the deal officially launched onáApril 10 with pricing for the issue coming eight days later on April 18. Such an accelerated roadshow is an attempt by the underwriters, Salomon Smith Barney and CSFB...

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