Taiwan wafer manufacturer starts marketing of GDR

Sino-American Silicon Products seeks to raise $160 million from what will be only the second Taiwan GDR this year.

Sino-American Silicon Products SAS, a Taiwan manufacturer of wafers and ingots for use in the production of solar cells and other things, will go on the road today to market the sale of global depositary receipts GDRs. The deal is expected to be completed before the end of this week.

Based on the current price of the company’s Taiwan-listed stock, the deal could bring in between $160 million and $203 million, depending on whether the upsize option is exercised or not, according to a source. However, the final price will be set at a discount of up to 10% versus the Taiwan-listed stock, and if the share price trends lower over the...

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