Responding to the sharp decline in the company’s share price, the board of directors of Chi Mei Optoelectronics (CMO) on May 2 decided to lower the issuing price of a planned 500 million new share issue from NT$21 to NT$19.
CMO announced first-quarter losses on April 25, and its share price has declined from NT$29.3 on April 24 to close at NT$22 today.
CMO, which withdrew a global depositary receipt (GDR) issue in March, due to unfavorable global financial market conditions, received government approval for a 500 million share issue on April 28. The money raised will be used to finance construction of CMO’s fifth-generation (5G) TFT LCD line.
Article edited by Shih-wei Kao
