Chailease Holding, a Taipei-listed financing and leasing company, has raised $206.2 million from its first-ever sale of global depositary receipts. The deal was launched and completed after the market closed yesterday and is the second GDR out of Taiwan in less than a week. Last Thursday, Win Semiconductors completed a GDR sale that raised $158 million.
However, while the Win Semiconductors transaction was fully marketed with the bookbuilding coming on the back of a one-week roadshow, Chailease chose to do its deal on an accelerated basis with no marketing. As a result, it didn’t have to deal with a live share price.
But, having announced its intention...