By: Han Ting-ting and Elizabeth Hs
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]