Yageo completes GDR

In early March, Sunplus Technology achieved an 8.28% discount to spot via UBS Warburg and two months later, Compal Electronics came at a 6.32% discount via Goldman Sachs. At 10%, Yageo also falls outside the 6% median discount achieved by the 15 or so Taiwanese companies that have gone to either the ADR or GDR market over the past two years (excluding UMC's NYSE listing, which skews the result).