Silicon wafer maker Globalwafers completed the first global depositary receipt offering from Taiwan in 19 months on Thursday, netting $469 million from an equity fundraising that was upsized by nearly 10% from the base offering.
Hsinchu-headquartered Globalwafers shrugged off market volatility to sell 68 million global depository shares to international investors, each of them equivalent to one common Globalwafers share.
The Reg S-only deal was executed amid political tensions across the Korean peninsula, which had put Taiwanese stocks under pressure since the beginning of the month. The Taiwan Stock Exchange Index has retreated 3.1% since the beginning of April following a long rally that stretched back to...
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