Taiwanese electronics manufacturer Quanta Computer Inc aims to raise up to $2.2 billion through a global depositary share (GDS) sale, a term sheet reviewed by Reuters showed on Wednesday.
The company is offering 49 million GDS, each representing five ordinary shares, at a price range of $43.91 to $44.77, the term sheet said.
The deal will comprise 245 million new shares, the term sheet showed.
Quanta Computer did not respond immediately to a request for comment.
The price range represents a 6% to 7.8% discount to Quanta’s July 29 closing price of T$309.50 ($9.55). The shares will be listed in Luxembourg.
Quanta plans to use the proceeds to buy raw materials in foreign currencies, the term sheet said.
Taiwanese technology stocks have come under pressure in a regional selloff tied to concerns about the durability of the artificial intelligence boom.
Taiwan’s benchmark stock index fell 3.8% on Wednesday. Taiwan Semiconductor Manufacturing Co and United Microelectronics Corp declined by 3.5% and 9.7% respectively.
The deal is due to price later on Wednesday, the term sheet showed.
Reuters
