Green Energy Technology Inc (綠能科技), the nation’s biggest solar wafer maker, yesterday said it raised US$89.99 million selling common shares in the form of global depositary receipts (GDRs) at US$11.62 per unit.
That represents a discount of 8.97 percent to the stock’s closing price on Wednesday of NT$81.80, compared with the set price of NT$74.46 per share.
Each GDR represents five common shares.
SHARE DROP
Shares of Green Energy fell 3.67 percent to NT$78.80 yesterday, while those of Motech Industries Inc (茂迪), the nation’s biggest solar cell maker, rose 3.15 percent to NT$131 after Capital Securities Corp (群益證券) said the firm’s consolidated sales may have reached nearly NT$4 billion (US$125 million) last month, from NT$3.76 billion in July.
Green Energy plans to use the proceeds to boost operating funds, purchase raw materials, repay bank loans and buy new equipment for capacity expansion.
Through the overseas offering, the company has sold 7.4 million units of GDRs, which will be traded on the Luxembourg Stock Exchange, according to a statement issued yesterday.
That represents the sale of about 37.025 million common shares of Green Energy.
LOAN
In July, Green Energy obtained a syndicated loan of NT$2.66 billion from seven local banks including Taipei Fubon Bank (台北富邦銀行) to fund capacity expansion and operation.
The company was invested by San Chih Semiconductor Co (尚志半導體) through an equity investment by Tatung Co (大同) and incorporated in 2004. Its main products are multi-crystal silicon wafers and single-crystal ingots and wafers.
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