TPK Holding, the newly listed Taiwanese company that is the main supplier of touch screens to Apple’s iPhones and iPads, last night sold $400 million worth of three-year convertible bonds to raise funds for expansion. The deal was widely anticipated since Taiwanese companies have to make a public filing before issuing new securities, and investors piled in to get a share of the company’s success story.
According to sources, the offering attracted more than 170 investors and was 10 times covered even though the order books were kept open for just two-and-a-half hours and the deal didn’t come cheap. The CB also quickly traded up to about 103 in...
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