By Scott Murdoch and Yantoultra Ngui
July 29 (Reuters) – Taiwanese electronics manufacturer Quanta Computer Inc aims to raise up to $2.2 billion through a global depositary shares (GDS) sale, a term sheet reviewed by Reuters showed on Wednesday.
• The company is offering 49 million GDS, each representing five ordinary shares, in a price range of $43.91 to $44.77 each, the term sheet said.
• The deal will comprise 245 million new shares, the term sheet showed.
• Quanta Computer did not respond immediately to a request for comment.
• The price range represents a 6% to 7.8% discount to Quanta’s July 29 closing price of T$309.50 ($9.55). The shares will be listed in Luxembourg.
• Quanta plans to use the proceeds to buy raw materials in foreign currencies, the term sheet said.
• Taiwanese technology stocks have come under pressure in a regional selloff tied to concerns about the durability of the artificial intelligence boom.
• Taiwan’s benchmark stock index fell 3.8% on Wednesday. Taiwan Semiconductor Manufacturing Co and United Microelectronics Corp declined by 3.5% and 9.7% respectively.
• The deal is due to price later on Wednesday, the term sheet showed.
($1 = 32.3980 Taiwan dollars)
(Reporting by Scott MurdochEditing by Jacqueline Wong and David Goodman)
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