Wintek and Farglory sell $540 million of GDRs

Wintek's $330 million offering is the largest follow-on in Asia so far this year, while Farglory's $210 million deal ranks as the first ever GDR by a Taiwan real estate company.

Two Taiwanese companies have raised a combined $540.9 million from the sale of global depositary receipts GDRs, taking advantage of the short issuance window before the Lunar New Year holiday in early February. Filings for both deals were made in December, meaning investors were expecting a trade at some point and getting them out of the way this early would prevent an overhang on the share price.

The largest of the two and also the first to price was Wintek Corp, a manufacturer of small and medium-size liquid crystal display LCD screens for mobile phones, digital cameras and MP3 players among other things, which closed its $330.6 million transaction on Wednesday night....

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