Taiwan’s Unimicron Technology plans to raise about $1.4 billion from a global share sale to buy raw materials priced in foreign currencies, according to a term sheet seen by Reuters on Monday.
Unimicron is offering 50 million global depositary shares at $26.96 to $27.76 each, the term sheet showed. Each depositary share equals one ordinary share.
The price range is approximately T$864 ($26.92) to T$889 per share. That marks a discount of 3% to 5.8% to Unimicron‘s Monday closing price of T$917 in Taipei.
The launch adds to a rush of Asian chip-related companies tapping global investors as demand tied to artificial intelligence drives spending across the semiconductor supply chain.
South Korea’s SK Hynix launched a planned $28 billion US listing on Monday, while Taiwan’s Powerchip Semiconductor Manufacturing undertook a global depositary share offering in June.
A global depositary share is a security that lets overseas investors buy into a company’s stock.
Unimicron shares have surged 317% year-to-date, LSEG data showed. The company makes printed circuit boards and chip substrates, parts used to connect and support chips in electronic devices.
The global depositary shares will be listed on the Luxembourg Stock Exchange. Pricing is expected later Monday, the sheet showed.
Unimicron did not immediately respond to a Reuters request for comment.
Reuters
