Wintek GDR

Wintek raises $100 million from GDR issue

The deal comes as shares in Wintek, the Taiwan maker of LCD screens for handheld devices, hit a new 12-month low and is priced at an 8.3% discount.
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Wintek makes touchscreens for iPads and many other devices
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<div style="text-align: left;"> Wintek makes touchscreens for iPads and many other devices </div>

It looked like a tentative rebound at best, but the majority of stock markets in the region did finish higher yesterday as some investors deemed prices low enough to get back in.

Whether this will lead to more sustainable buying or investors will continue to sell into any further gains remains to be seen, but Taiwan’s Wintek Corp wasted no time trying to figure that out yesterday. Although its own share price fell 0.3% to a new 2012 low, the maker of LCD touch screens for handsets and tablets launched an offering of global depositary receipts GDR after the market close, with the aim of raising about $100 million.

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