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Wistron Corporation stock fell more than 6% on Tuesday after the Taiwanese server maker priced a $1.47 billion global depositary receipt offering at a discount to its previous close.
In a stock exchange filing, the company said it had set the price for 25 million global depositary receipts at $58.88 apiece, with each receipt corresponding to 10 new common shares for a total of 250 million. At roughly NT$186.24 per underlying share, Tuesday's issuance came in 5.5% below the NT$197 level at which Wistron shares ended Monday's session, the filing showed. According to Reuters, the final price landed near the bottom of the marketed range of $58.67 to $59.79 per receipt.
Measured against Wistron's pre-offering share count, the newly issued stock accounts for roughly 7.29% of the total, the company said. Wistron added that it does not expect material dilution of shareholder interests. Settlement is scheduled for Thursday, and Wistron intends to deploy the funds toward foreign-currency procurement of raw materials.
