Lead manager Goldman Sachs priced a 6.55 million unit GDR offering for Taiwan's High Tech Computer HTC on Friday. The company marks a new client for Goldman and a switch of houses from UBS, which led a convertible for the group earlier this year and also previously held a mandate for a GDR.
The deal encompassed an equal mix of new and old shares and was priced at a slim discount to spot. At an issue price of $15.42, the offering came at a 5% discount to the stock's NT$138 close.
There is a ratio of one GDR per share and greenshoe of $10 million. Selling shareholders comprised...
