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.
KEEPING UP: The acquisition of a cleanroom in Taiwan would enable Micron to increase production in a market where demand continues to outpace supply, a Micron official said Micron Technology Inc has signed a letter of intent to buy a fabrication site in Taiwan from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion to expand its production of memory chips. Micron would take control of the P5 site in Miaoli County’s Tongluo Township (銅鑼) and plans to ramp up DRAM production in phases after the transaction closes in the second quarter, the company said in a statement on Saturday. The acquisition includes an existing 12 inch fab cleanroom of 27,871m2 and would further position Micron to address growing global demand for memory solutions, the company said. Micron expects the transaction to
Vincent Wei led fellow Singaporean farmers around an empty Malaysian plot, laying out plans for a greenhouse and rows of leafy vegetables. What he pitched was not just space for crops, but a lifeline for growers struggling to make ends meet in a city-state with high prices and little vacant land. The future agriculture hub is part of a joint special economic zone launched last year by the two neighbors, expected to cost US$123 million and produce 10,000 tonnes of fresh produce annually. It is attracting Singaporean farmers with promises of cheaper land, labor and energy just over the border.
US actor Matthew McConaughey has filed recordings of his image and voice with US patent authorities to protect them from unauthorized usage by artificial intelligence (AI) platforms, a representative said earlier this week. Several video clips and audio recordings were registered by the commercial arm of the Just Keep Livin’ Foundation, a non-profit created by the Oscar-winning actor and his wife, Camila, according to the US Patent and Trademark Office database. Many artists are increasingly concerned about the uncontrolled use of their image via generative AI since the rollout of ChatGPT and other AI-powered tools. Several US states have adopted
A proposed billionaires’ tax in California has ignited a political uproar in Silicon Valley, with tech titans threatening to leave the state while California Governor Gavin Newsom of the Democratic Party maneuvers to defeat a levy that he fears would lead to an exodus of wealth. A technology mecca, California has more billionaires than any other US state — a few hundred, by some estimates. About half its personal income tax revenue, a financial backbone in the nearly US$350 billion budget, comes from the top 1 percent of earners. A large healthcare union is attempting to place a proposal before
RSS