WT Microelectronics raises $935M in Taiwan's largest chip share-and-bond deals
What's the deal? Taiwan-based electronic components company WT MicroelectronicsDealroom has a profile for this one. Try Dealroom → has raised $935 million through a share sale and a convertible bond sale, according to stock filings. The company priced 15 million global depositary receipts at $29 each, raising $435 million, alongside $500 million in zero-coupon convertible bonds due in June 2027.
The details: Each receipt represents five WT Micro common shares, covering 75 million shares in total, with issuance set for Friday. The bonds convert into shares at T$224.54 ($7.09) each — 14.56% above Tuesday's closing price of T$196.
What's the money for? WT Micro plans to use the proceeds to buy raw materials priced in foreign currencies and repay foreign-currency bank loans. The company said the fundraising would cut interest costs and strengthen its finances. The share sale will increase its share count by about 5.57%.
The signal: At $935 million, the raise ranks in the 95th percentile of post-IPO equity rounds among Taiwan semiconductor firms, underscoring how listed chip players are tapping capital markets to manage currency exposure and lower borrowing costs.
Read more: dealstreetasia.com
Image credit: Gijs Peijs
