Chunghwa Picture Tubes prices and increases CB

The Taiwanese TFT-LCD manufacturer is finally able to fulfill some of its ambitions in the international capital markets.

ABN AMRO successfully closed a $125 million convertible for Chunghwa Picture Tubes CPT at London's close yesterday Wednesday.

For a little over six months, the flat panel and cathode ray tube manufacturer has been hoping to access the international equity markets with a $250 million convertible and roughly $400 million GDR. But after fruitlessly waiting for its share price to re-bound, the company took the decision to raise less funds than it originally hoped in return for securing funding for its 5G fab.

Yet after pre-marketing a $100 million offering with a highly defensive structure, the company was able to increase the final deal size by $25 million and there is also...

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