Quanta suffers Taiwan tech decline

Taiwanese notebook manufacture cuts GDR sale as stock falls.

Quanta Computer completed a reduced GDR offering after New York's close on Thursday raising $141.06 million pre-greenshoe. Backed by lead manager Morgan Stanley, the company sold 50 million primary shares and 10 million secondary shares, with the addition of nine million secondary shares in the greenshoe. There is a ratio of five shares per GDS unit.

While the lead is said to have had a full order book at less than a 5% discount to spot, the three main selling shareholders decided to pull back because of an 11% decline in Quanta's share over the course of the marketing period. Founder Barry Lam completely withdrew his shares, while president CC Leung and executive...

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