Wintek re-opens Taiwanese GDR market

Nomura completes the first GDR from Taiwan in over six months.

A 14 million unit offering was priced at New York's close Wednesday raising $53.7 million for a manufacturer which makes small LCD screens used in mobile phones and PDA's. Pricing came at $3.835 representing a 20% discount to the stock's NT$33.2 close, or a 16% discount to a 20-day moving average.

With one unit equating to five shares, the company issued a total of 70 million new shares equal to 16% of its enlarged share capital. Yuanta Securities was co-lead with Barits Securities and ING as co-managers. There is also a 10 million share greenshoe.

The company used a recent rally in its share price as the springboard to launch a deal, which...

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