Motech's share price fell 2.9% on Thursday before the GDR was priced, closing below the NT$400 level for the first time in three-and-a-half months, which at first glance would suggest a lower price for the issuer. However, the bookrunners cleverly tightened the guidance after the local close to incorporate a slightly higher absolute price range as initially envisaged.
Credit Suisse and Morgan Stanley, which jointly led the deal, told investors on Wednesday about their intention to price the deal at a...
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