WT Microelectronics Co., Ltd. (3036 TT) (“WT” or the “Company”) announced the pricing of its concurrent offerings of US$435 million global depositary shares (“GDSs”) and US$500 million currency-linked zero-coupon convertible bonds (“CBs”) on September 1st, 2026. WT expects to raise aggregate proceeds of approximately US$935 million, which will be used for the procurement of raw materials denominated in foreign currencies to support the Company’s business growth, with part of the GDS proceeds also to be used to repay foreign-currency bank borrowings.
The transaction is the largest fundraising in WT’s history. It attracted broad participation from global investors and was oversubscribed multiple times, reflecting international investors’ strong confidence in the Company’s prospects and development strategy.
The offering comprises 15 million GDSs, representing 75 million new common shares of WT, to be listed on the Luxembourg Stock Exchange. The GDSs were priced at US$29 per unit.
The concurrently issued CBs will be listed on the Singapore Exchange and convertible into common shares of WT listed on the Taiwan Stock Exchange. The initial conversion price has been set at NT$ 224.54, representing a premium of 22.5% over the placement price of the concurrent GDS offering. The NTD-linked, USD-settled CBs have a tenor of nine months and are zero-coupon, with a yield to maturity of 0%.
Wen-Tsung Cheng, Chairman and CEO of WT Microelectronics, said: “Demand momentum from AI applications remains strong and, together with the recovery in the industrial and automotive markets, is driving robust growth in the semiconductor and electronic component markets. The concurrent offering of the GDS and CBs provides the Company with more ample working capital and greater financial flexibility. WT will build on this to further strengthen our leadership in semiconductor distribution, deepen our global supply chain solutions footprint, and capture the growth momentum in AI semiconductors and the recovery in the industrial and automotive markets, creating long-term value for our customers, suppliers and shareholders.”
Citigroup Global Markets Limited acted as Sole Global Coordinator for the concurrent GDS and CB offerings, and Sole Bookrunner for the GDS tranche. Citigroup Global Markets Limited and DBS Bank Ltd. acted as Joint Bookrunners for the CB tranche.