TPK raises $436 million from CB, GDR

TPK Holding has raised $200 million from the sale of a five-year zero-coupon, zero-yield convertible bond, and raised $236.2 million from a concurrent offering of global depositary receipts GDRs.

With manufacturing facilities based in Xiamen in Fujian province, TPK focuses exclusively on making touch screens for computers and handheld devices, and is a supplier to Apple. The company was listed in Taiwan in 2010.

The GDR offering will help to raise funds for subsidiaries to expand plants and acquire machinery and equipment, the company said in a statement yesterday. It plans to use the proceeds from the CB for the procurement of raw materials overseas....