Inotera Memories raised $418 million in an accelerated block trade on Friday after pricing some 40 million global depository receipts at the bottom end of the range.
The Taiwanese wafer manufacturer a joint venture between Nanya Technology Corp and US semiconductor maker Micron Technology sought to tap equity markets with a GDR sale at a time when its shares are trading at an all-time high.
The GDRs priced at $10.46 each, a 12.7% discount to the May 8 closing price of NT$36.10 $1.20. Books opened at an indicative price range of $10.46 to $10.96 per share, with Credit Suisse and Morgan Stanley active bookrunners...
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