To: Woody_Nickels who wrote (4612 ) 2/2/1999 10:40:00 AM From: DJBEINO Respond to of 9582
ABN AMRO Rothschild: Overwhelming Demand for First Asian GDR Issue in 1999 HONG KONG, Feb. 1 /PRNewswire/ -- ABN AMRO Rothschild announced today that it has successfully completed an international capital raising for Winbond Electronics Corporation. Winbond raised approximately US$172 million by selling 14.6 million GDRs to investors and an additional four million shares to employees (one GDR represents 10 shares). ABN AMRO Rothschild acted as Global Co-ordinator/Sole Bookrunner and Joint Lead Manager of the issue. International interest in the issue was heavy and the eventual allocation to investors -- Asia 40%, USA 35%, Europe 25% -- reflected this. Winbond is a leading manufacturer of integrated circuits (ICs) in Taiwan and is the largest integrated device manufacturer (IDM) with its own product design, manufacturing and marketing operations. In the second half of 1998, Winbond expanded its business into producing 64 Mb Dynamic Random Access Memory (DRAM) chips. Michiel Steenman, Managing Director of ABN AMRO Rothschild, said the issue had been very successful. ''The company marketed its story highly effectively and the timing of the issue could not have been better,'' he said. ''Demand for the issue has been overwhelming, and the quality of the book has been equally impressive.'' ''After a string of successful euro convertible bond offerings in 1997 and 1998, this GDR offering for Winbond in 1999 is another confirmation of ABN AMRO Rothschild's strength and capabilities in Taiwan.'' Winbond decided to raise funds with the assistance of ABN AMRO Rothschild and a syndicate of underwriters to expedite the installation of equipment for another 64 Mb DRAM wafer fabrication production plant to fully leverage on the forthcoming upcycle. Due to the overwhelming response during the pre-marketing phase prior to the official launch, the roadshow itinerary was shortened from one week to three days. The order book was fully covered on the second day and the issue was over three times subscribed by the book close. SUMMARY Issuer: Winbond Electronics Corp. (Bloomberg: 2344 TT / Reuters: 2344.TW) Sector: Electronics Offering: 15 million Global Depository Receipts Offering size: US$ 171,750,000 million Issue price: US$ 11.45 Discount: 8% discount to the closing of NT$ 40.20 on 28th January, 1999 Exchange rate: NT$ 32.31 / US$ 1 at 28/1/99 Trade date: 29th January, 1999 (trading commences 2:30pm London time) Settlement Date: 5th February, 1999 Conversion restriction: No restriction (except for the first 3 months standard non- conversion period) Listing: Luxembourg Settlement: Euroclear / Cedel / DTC Common Code: Reg S GDRs: 9407758 CUSIP Numbers: Reg S GDRs: 972657 20 9 / 144A GDRs: 972657 10 0 ISIN Codes: Reg S GDRs: US9726572095 / 144A GDRs: US9726571006 Portal Symbol: 144A GDRs: WINGYP GDR/Common Depository: The Bank of New York SOURCE: ABN AMRO Rothschildbiz.yahoo.com