Taiwan biomedical sector to see biggest overseas funding case

Focus Taiwan
Date: 10/28/2020
By: Han Ting-ting and Elizabeth Hs

Taipei, Oct. 28 (CNA) Taipei-based Oneness Biotech Co. Ltd. (合一生技) set the price for its global

depositary receipt (GDR) issuance on Wednesday that will make it the biggest ever overseas fundraising case by a company in Taiwan's biomedical sector.

Oneness Biotech announced Wednesday morning that the price for its GDRs was finalized on Tuesday at US$51.11 per unit (equal to five common shares), or US$10.22 (NT$292.39) per share.

With 3.46 million GDR units being issued, a total of US$177 million will be raised, according to the company.

The price represented a substantial discount off Oneness' shares traded on Taiwan's over-the-counter market, which closed at NT$324.50 on the Taipei Exchange on Tuesday and were down nearly 5 percent to NT$309.00 early Wednesday afternoon.    [FULL  STORY]

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