promos-relaunches-and-prices-postponed-gdr-offering

ProMOS relaunches and prices postponed GDR offering

Recovery in share price allowed for quick return to market; price is fixed at 8% discount after solid demand.
ProMOS Technology last night July 6 completed the follow-on GDR offering that it pulled from the market just three weeks ago, taking advantage of a slight recovery in the share price and positive momentum in the sector following two successful offerings by other memory chip makers over the past one and a half weeks.

The Taiwan DRAM manufacturer raised NT$10.75 billion $333 million from the sale of 100 million global depositary receipts, after an option to issue an additional 12.5 million units on top of the base offering size of 87.5 million GDRs was utilised in full.

The total offering accounted for about 14.7% of the enlarged issued share capital.

The price...
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