A little more than two weeks after Wistron Corp beat it to become the first Asian company to issue a convertible bond this year, Taiwan’s Pegatron Corp finally hit the market yesterday. And it appears the wait was worth it.
The company’s share price gained 5.6% yesterday to an 11-month high as the Taiwan market was playing catch-up with other markets after being closed for more than a week and Pegatron itself benefitted from Apple’s strong fourth quarter earnings that was released last week. Pegatron, which designs and manufactures desktops, laptops, smartphones, games consoles and LCD TVs for Apple and others, captured this window perfectly.
The zero-coupon...
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