Taiwan chipmaker prices sector's second largest GDR

Inotera raises $421 million for aggressive capex plan and lifts foreign ownership of the stock in the process.
May 10, 2006
Taiwan-based memory chipmaker, Inotera Memories has completed its first GDR issue less than two months after listing on the Taiwan stock exchange û allowing international investors to own a part of its growth story.

The company, which was founded in early 2003 as a 50-50 joint venture between TaiwanÆs Nanya Technology Group and EuropeÆs largest chipmaker, Infineon Technologies, ended up raising $421.2 million that will help pay for equipment at its second fabrication plant that is currently under construction.

Citigroup and Morgan Stanley were joint bookrunners for the deal, which was the largest GDR by a Taiwan semiconductor company ever. If one includes panel makers, it would be the second largest since Chi Mei Optoelectronics...
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