Powerchip Semiconductor Corporation (PSC) yesterday finalized share prices for its ECB (euro-convertible bond) and GDR (global depositary receipt) issues with the company to secure US$328 million from the bond issues, according to local media.
PSC will issue 292 million GDR units with a unit price of US$5.75, noted the report. With each GDR unit representing 10 common stock shares, the pricing amounts to a discount of 4% off of the company's June 27 closing share price of NT$19.60, according a Chinese-language Economic Daily News (EDN) report.
The ECB was priced at NT$21.95, a 12% premium of the June 27 closing share price, the EDN report noted. Company chairman Frank Huang was cited in a Chinese-language Apple Daily News report as being satisfied of the settled prices.
PSC is expected to achieve margins of 25-30% in the second quarter with quarterly revenues hitting NT$3-4 billion, according to sources cited in a Chinese-language Commercial Times report. The company should house a total of 105,000 12-inch wafer monthly capacity at its three 12-inch fabs during year-end, the report said.
Article translated by Esther Lam and edited by Eric Mah
