Prodisc Technology, a leading producer of optical discs in Taiwan, will float up to 606 million new shares to be issued in installments over a year to raise additional capital from target investors, according to a decision made by the company's board of directors on October 21.
The sales price per share was tentatively set at NT$3.3, with the actual price at each installment to be determined by the board of directors based on Prodics' operational performance, business outlook, and stock price trend, Prodisc indicated. However, the actual prices should not be lower than 80% of the reference price of NT$4.1, or roughly NT$3.28, the company noted.
The funds will be used to improve its financial health, expand production capacity of high-speed DVD discs and for R&D of next-generation of blue-laser discs, according to Prodisc.
Story source:
digitimes.com.
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