UBSW pre-markets High Tech Computer

A $130 million GDR is being launched for the world''s largest ODM manufacturer of pocket PCs.

Investor pre-marketing began at the beginning of this week and full roadshows are expected to begin on Monday June 10 for pricing two-and-a-half weeks later. UBS Warburg has sole books for a 30 million new share issue, with Credit Suisse First Boston and Morgan Stanley as joint-leads, plus Yuanta Securities as co-manager. There are two common shares per GDR, with a further greenshoe of 1.25 million GDRs.

High Tech only listed on the TWSE at the end of March and with a current market capitalization of $646.71 million, the new issue will be fairly dilutive, equating to 15.6% of the enlarged share capital. The stock closed yesterday Tuesday at NT$173 per share,...

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