Chunghwa Picture Tubes CPT returned to the GDR market for the first time since October 2003 on June 21 with a $308.5 million deal via ABN AMRO Rothschild and Citigroup.
The greenshoe was exercised in full enabling the group to issue a total of 28 million units at $11.02 each. This represented a 6% discount to the stock's NT$14.7 close earlier the same day.
The discount was in line with the 6.7% level the group managed back in 2003, but wider than the 4.7% discount Chi Mei Optoelectronics achieved just over a week ago. However, CPT is a much weaker proposition than Chi Mei and it...
