Globalwafers seals GDR sale amid volatility

Taiwanese silicon wafer maker raises $469 million in island’s biggest GDR deal in nearly four years. It needs the cash to help fund acquisition of SunEdison Semiconductor.

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...

¬ 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