Chi Mei Optoelectronics was finally able to access the international equity markets late on Thursday Asian time with the completion of a $225 million convertible via lead manager Morgan Stanley. Getting funding locked in place for its 5G fab is likely to have come as a considerable relief to the world's fourth largest TFT-LCD manufacturer since it completely mistimed the sector's last cycle.
Having only listed on the domestic stock exchange last August, the company just missed a peak in panel prices, which had occurred a month earlier. It then saw its funding plans unravel as a severe price correction became mirrored in a share price contraction that saw it drop from...
