E-ton Solar Tech Co (
The conversion price for the zero-coupon bond due in 2011 was NT$745 (US$22.76), rep-resenting a premium of 25 percent over E-ton's closing price of NT$596 on Monday, the company said in the statement.
With strong growth momentum in the solar cell industry, the bond was oversubscribed six times, it added.
Shares of E-ton shed 0.84 percent to close at NT$591 on the over-the-counter GRETAI Securities Market.
E-ton had planned to raise the capital by issuing global depositary receipts (GDRs), but canceled that plan in August, as investors were concerned about the rapid rally in E-ton's market price, which was around NT$642 at the time.
The convertible bond can be called after the first 18 months, subject to a 130 percent hurdle. Redemption price and put price are set at par, and there will be no return for investors who do not convert the bonds into equity, E-ton said in the statement.
The issuance will not greatly increase the firm's capital size as the bonds account for merely 9.84 percent of all shares, E-ton said.
The capital raised will be used to construct new plants and purchase equipment and raw materials to meet the company's capacity expansion goals, according to the statement.
Having signed a deal at the end of last month to source 1,200 megawatts (MW) of silicon wafer from Japan-based M. Setek Co over the next 10 years, E-ton plans to double its annual capacity to 200MW from the 100MW targeted for this year, and to further increase capacity to 300MW in 2008.
E-ton reported pre-tax earnings of NT$90.04 million, or NT$2.24 per share, on sales of NT$371.54 million, it said in a filing to the stock exchange yesterday. For the first 10 months of the year, sales jumped 212.79 percent to NT$2.57 billion, it said.
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
Saudi Arabian Oil Co (Aramco), the Saudi state-owned oil giant, yesterday posted first-quarter profits of US$26 billion, down 4.6 percent from the prior year as falling global oil prices undermine the kingdom’s multitrillion-dollar development plans. Aramco had revenues of US$108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange. The company saw US$107.2 billion in revenues and profits of US$27.2 billion for the same period last year. Saudi Arabia has promised to invest US$600 billion in the US over the course of US President Donald Trump’s second term. Trump, who is set to touch
SKEPTICAL: An economist said it is possible US and Chinese officials would walk away from the meeting saying talks were productive, without reducing tariffs at all US President Donald Trump hailed a “total reset” in US-China trade relations, ahead of a second day of talks yesterday between top officials from Washington and Beijing aimed at de-escalating trade tensions sparked by his aggressive tariff rollout. In a Truth Social post early yesterday, Trump praised the “very good” discussions and deemed them “a total reset negotiated in a friendly, but constructive, manner.” The second day of closed-door meetings between US Secretary of the Treasury Scott Bessent, US Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng (何立峰) were due to restart yesterday morning, said a person familiar
RSS