Epistar Plans to Raise NT$10 billion by Issuing GDR

Under increasing demands for LED backlights for LCD TV and notebook computers, the board of directors at Epistar Corp. recently approved to issue 110-135 million units of global depository receipt (GDR) to raise some NT$10 billion (US$303 million at US$1:NT$33) to build up inventories of materials for the blooming market, according to Taiwan Economic News. Some industry watchers believe Epistar would use the GDR offering to attract foreign shareholders. Epistar will set the issuance date and price in two weeks, according to the report.

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