wistron-raises-2235-million-from-relaunched-gdr

Wistron raises $223.5 million from relaunched GDR

The Taiwanese maker of laptops and LCD panels comes at a tight discount, but is able to get a better price than it would have last week following a 7% bounce in the share price yesterday.

Taiwanese laptop and LCD panel manufacturer Wistron returned to the market last night raising $223.5 million from a global depositary receipt GDR follow-on that it had pulled before pricing on Friday. The relaunched deal is the largest equity deal with an international component from Taiwan year-to-date -- although activity has been rather thin with only one other GDR so far.

Sources say the bookrunners had compiled sufficient demand to complete the deal on Friday, but the company wasn't happy with the price and chose to wait for a better opportunity. The deal was launched on the back of a NT$49.65 close in Wistron's Taiwan-listed stock on Thursday, but the stock tumbled 5.8% on Friday...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222