Powertech packages GDR for international investors

Does Powertech GDR signal new onslaught of Taiwan tech deals?

Taiwan's Powertech Technology completed a debut $103.6 GDR yesterday January 17, taking advantage of an 81.2% rise in its share price since the beginning of January last year.

The JPMorgan led deal comprised 15 million units, with an additional 1.75 million unit greenshoe. Pricing was fixed at $6.91 per unit, which represented a 4% discount to the stock's NT$115 close on Tuesday.

One unit equals two shares. Should the greenshoe be exercised in full, the deal will equate to 8.4% of the testing and packaging company's issued share capital.

Unusually for a Taiwanese tech deal, it comprised all old shares....

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