Korean TFT-LCD producer LG Philips LCD has executed its most successful international capital markets transaction to date, raising $2 billion via a concurrent ADR and common share offering yesterday July 21. The deal represents Asia's largest equity deal so far this year, Korea's largest equity deal to date and Asia's largest tech deal to date.
Thanks to a $6 billion order book packed with over 200 investors, the deal could also be priced relatively aggressively by its four lead managers Morgan Stanley and UBS joint global co-ordinators, plus ABN AMRO Rothschild and Citigroup joint bookrunners. A total of 70 million ADS units were priced at $21.32 per...
