Lead manager Lehman Brothers completed a $269.8 million GDR for Taiwanese flat panel manufacturer Quanta Display Industries QDI yesterday Thursday. Roadshows were originally scheduled to run for a week-and-a-half, but after building an order book of just over $1 billion within the first day, the company decided to accelerate the deal and price early.
A total of 26.1 million GDS units were priced at $10.34, representing an 8.08% discount to the stock's NT$19 close in Taiwan. There are a ratio of 20 shares per unit and an additional 3.9 million GDS unit greenshoe. The new deal will account for 20% of the company's market capitalization.
The offering had been...
