Taiwanese chipmaker Macronix International braved the international capital markets yesterday morning becoming the first Taiwanese firm to raise equity after two weeks of political turmoil. The company raised $173.25 million through the sale of 13.125 million GDRs representing 525 million shares. The GDRs were priced at a discount of 9.92% to the closing price of the underlying shares on March 31.
Deutsche Bank was sole bookrunner on the deal and CSFB was co-lead manager. The deal is a Reg S transaction and the GDRs will be listed on the Luxembourg Stock Exchange, where they begin trading on April 5.
Bankers close to the transaction point to the factors...
