Wintek brings first Taiwan GDR this year

The Taiwanese maker of LCD screens and touch panels prices at the mid-point to raise $122 million.

Wintek, which makes small- and medium-size liquid crystal display LCD screens for mobile phones, digital cameras and MP3 players among other things, on Monday evening sold $122.1 million worth of global depositary receipts GDR, removing an overhang that appears to have hampered its share price in recent weeks.

With that overhang now gone, the company should be able to benefit in full from the positive news surrounding Apple's iPhone and the new iPad for which it is a key supplier of touch panels -- or so the investors participating in the transaction seem to believe.

According to a source, the deal was 1.5 times covered in the first hour and, even though it...

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