Ritek, the second largest maker of optical discs in Taiwan, will issue ECB (euro convertible bonds) worth US$200 million for sale to targeted strategic investment funds, with the money raised to be used to improve its finances and strengthen R&D of next-generation blue-laser optical discs and other new products, according to the company.
The ECB issuance was approved at a provisional shareholder meeting on September 22. The fundraising is expected to be finished next quarter, Ritek indicated.
Ritek started operating its factory in China in 2003 and one in Vietnam this quarter, noted the company, adding that its China factory reaches a monthly production capacity of 30 million CD-R discs and seven million DVD-R discs while it's Vietnam factory currently can produce 20 million CD-R discs and three million DVD-R discs a month.
Article translated by Adam Hwang and edited by Eric Mah
