Yageo Corp springs CB

The quick succession of deals from Taiwan has resulted in a much lower subscription level of two-and-a-half to three times for Yageo's $220 million offering, compared to the 10 to 12 times levels recorded last week by Quanta and Acer. Highlighting that there are limits to investor appetite despite the region's fundamental supply/demand imbalance, the deal has, nevertheless, been considered a success after achieving similar pricing levels to its immediate predecessors.