powerchip-raises-330-million-from-second-gdr

Powerchip raises $330 million from second GDR

The deal fetches strong demand despite being the second GDR from the memory-chip maker in five months. Local share price rallies 4.4% after the sale.
Taiwanese memory-chip maker Powerchip Semiconductor has raised $330 million from the sale of GDRs to international investors through joint bookrunners Goldman Sachs and Nomura.

It was the companyÆs second foray into the international capital markets this year after it raised $303 million from a combined sale of GDRs and convertible bonds through Deutsche Bank in June. Like last time, the timing of the sale was well chosen to coincide with a positive news flow and favourable sentiment for the sector as a whole. It also followed a 44% improvement in the companyÆs third quarter net profit.

And when the management could demonstrate a clear investment need for the money û the construction of...
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