Chi Mei's optical illusion

One of the most unusual equity-linked offerings from Asia in recent years perplexes the convertible market.

Chi Mei Optoelectronics was finally able to access the international equity markets late on Thursday Asian time with the completion of a $225 million convertible via lead manager Morgan Stanley. Getting funding locked in place for its 5G fab is likely to have come as a considerable relief to the world's fourth largest TFT-LCD manufacturer since it completely mistimed the sector's last cycle.

Having only listed on the domestic stock exchange last August, the company just missed a peak in panel prices, which had occurred a month earlier. It then saw its funding plans unravel as a severe price correction became mirrored in a share price contraction that saw it drop from...

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