UMC fulfils equity ambitions

In what also represents the largest ever international equity offering from Taiwan, United Microelectronics Corp (UMC) raised $1.3 billion this Monday on the pricing of its debut ADR. Behind fellow foundry manufacturer Taiwan Semiconductor Manufacturing Company (TSMC), the company becomes the second from the Island Republic to obtain an NYSE listing and does so after pulling back from issuing earlier this summer when market conditions were also poor.