chi-mei-to-net-680-million-from-combined-gdr-and-eb-sale

Chi Mei to net $680 million from combined GDR and EB sale

The equity portion is priced at a zero discount despite the ongoing investigation into alleged price fixing in the industry.
Taiwanese TFT-LCD maker Chi Mei Optoelectronics was able to overcome news of a US investigation into alleged price fixing in the industry and complete its combined sale of GDRs and exchangeable bonds yesterday.

The pricing was delayed from Tuesday to evaluate the potential legal impact of the investigation and to allow investors who had already submitted orders to have another look at the issue. But as no investors withdrew or changed their orders, the company and sole bookrunner Morgan Stanley decided to go ahead with the deal yesterday. And with virtually no price sensitivity in the book they were even able to price the equity portion at a zero percent discount to the...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222