ProMOS Technologies Inc (茂德), the nation's third-largest maker of computer memory chips, said it issued US$333 million worth of global depositary receipts (GDRs).
The shares were priced at an 8 percent discount to Thursday's closing price.
ProMOS issued 100 million GDR units at US$3.33 each, which is equivalent to NT$10.81 per common share, the Hsinchu-based company said in a statement to the Taiwan Stock Exchange yesterday.
The 100 million GDR units, which included 12.5 million that were added because of demand, were two times oversubscribed, Rene Mijne, head of equity syndication at ABN Amro Rothschild Asia, which helped arrange the sale, said in a telephone interview.
ProMOS postponed the original share sale four weeks ago after the pricing failed to meet its expectations, he said.
"Market sentiment has clearly changed compared with four weeks ago," Mijne said, adding that the pricing "meets our expectation of a 5-10 percent discount."
ProMOS said on Feb. 20 it plans to issue as many as 1 billion new shares to raise funds for operations. It said Jan. 16 that it might spend about US$10 billion on four factories that produce 12-inch wafers to cope with rising demand.
The chipmaker, which already has two 12-inch factories, will build its third plant in the first half of this year, and convert an 8-inch facility into a 12-inch plant either in 2008 or 2009.
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