Touch-panel supplier TPK Holding Co (宸鴻) yesterday said it would issue another US$30 million in overseas convertible bonds amid strong demand, bringing its latest bond offering to US$230 million.
On Wednesday, the supplier of touch-screens for Apple Inc’s iPhone and iPad said it raised US$200 million from the sale of zero-interest, five year overseas convertible bonds, with an option to increase the offering by up to US$50 million.
The company said in an e-mailed statement that it maintained a conversion price of NT$452.68 (US$15.43) for the additional bond issuance, the same price as those sold on Wednesday.
It said it would start issuing the US$30 million in additional bonds on Monday and the potential share dilution is about 4.4 percent if investors exchange all the US$230 million five-year convertible bonds for company stock, which would have a limited impact on interest for shareholders, TPK said.
TPK shares fell 2.9 percent to NT$384.5 yesterday on the Taiwan Stock Exchange before the announcement of the additional bond issuance.
Together with the sale of US$236 million in global depositary receipt on Wednesday, TPK has secured US$466 million in its latest fund-raising drive, which it said it would use to expand manufacturing capacity, especially to ramp up output of one-glass solution touch panels, as well as to purchase equipment and raw materials abroad.
EXTRATERRITORIAL REACH: China extended its legal jurisdiction to ban some dual-use goods of Chinese origin from being sold to the US, even by third countries Beijing has set out to extend its domestic laws across international borders with a ban on selling some goods to the US that applies to companies both inside and outside China. The new export control rules are China’s first attempt to replicate the extraterritorial reach of US and European sanctions by covering Chinese products or goods with Chinese parts in them. In an announcement this week, China declared it is banning the sale of dual-use items to the US military and also the export to the US of materials such as gallium and germanium. Companies and people overseas would be subject to
DOLLAR CHALLENGE: BRICS countries’ growing share of global GDP threatens the US dollar’s dominance, which some member states seek to displace for world trade US president-elect Donald Trump on Saturday threatened 100 percent tariffs against a bloc of nine nations if they act to undermine the US dollar. His threat was directed at countries in the so-called BRICS alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the US dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed
TECH COMPETITION: The US restricted sales of two dozen types of manufacturing equipment and three software tools, and blacklisted 140 more Chinese entities US President Joe Biden’s administration unveiled new restrictions on China’s access to vital components for chips and artificial intelligence (AI), escalating a campaign to contain Beijing’s technological ambitions. The US Department of Commerce slapped additional curbs on the sale of high-bandwidth memory (HBM) and chipmaking gear, including that produced by US firms at foreign facilities. It also blacklisted 140 more Chinese entities that it accused of acting on Beijing’s behalf, although it did not name them in an initial statement. Full details on the new sanctions and Entity List additions were to be published later yesterday, a US official said. The US “will
COLLABORATION: The operations center shows the close partnership between Taiwan and Japan in the field of semiconductors, Minister of Economic Affairs J.W. Kuo said Tokyo Electron Ltd, Asia’s biggest semiconductor equipment supplier, yesterday launched a NT$2 billion (US$61.5 million) operations center in Tainan as it aims to expand capacity and meet growing demand. Its new Taiwan Operations Center is expected to help customers release their products faster, boost production efficiency and shorten equipment repair time in a cost-effective way, the company said. The center is about a five-minute drive from the factories of its major customers such as Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) advanced 3-nanometer and 2-nanometer fabs. The operations center would have about 1,000 employees when it is fully utilized, the company
RSS